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The following transactions of Johnson Pharmacies occurred during 2024 and 2025: (Click the icon to view the transactions.) Read the Requirement 1. Journalize the transactions
The following transactions of Johnson Pharmacies occurred during 2024 and 2025: (Click the icon to view the transactions.) Read the Requirement 1. Journalize the transactions in the Johnson Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries. Round all answers to the nearest dollar.) Mar. 1, 2024: Borrowed $450,000 from Coconut Creek Bank. The 15 - year, 5% note requires payments due annually, on March 1 . Each payment consists of $30,000 principal plus one year's interest. Dec. 1, 2024: Mortgaged the warehouse for $250,000 cash with Saputo Bank. The mortgage requires monthly payments of $8,000. The interest rate on the note is 12% and accrues monthly. The first payment is due on January 1,2025. More info 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations are not required. 2. Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2025 after all the journal entries are recorded
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