The following transactions of Wholesale Pharmacies occurred during 2016 and 2017: (Click the icon to view the transactions.) Requirements 1. Journalize the transactions in the Wholesale Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. 2. Prepare the liabilities section of the balance sheet for Wholesale Pharmacies on March 1, 2017 after all the journal entries are recorded. Requirement 1. Journalize the transactions in the Wholesale 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.) Mar. 1, 2016: Borrowed $300,000 from Naples Bank. The six-year, 10% note requires payments due annually, on March 1. Each payment consists of $50,000 principal plus one year's interest. Date Accounts Debit Credit 2016 Mar. 1 2016 Mar. 1 Borrowed $300,000 from Naples Bank. The six-year, 10% note requires payments due annually, on March 1. Each payment consists of $50,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $550,000 cash with Saputo Bank. The mortgage requires monthly payments of $8,000. The interest rate on the note is 5% and accrues monthly. The first payment is due on January 1, 2017. 31 Recorded interest accrued on the Saputo Bank note. 31 Recorded interest accrued on the Naples Bank note. 2017 Jan. 1 Paid Saputo Bank monthly mortgage payment. Feb. 1 Paid Saputo Bank monthly mortgage payment. Mar. 1 Paid Saputo Bank monthly mortgage payment. 1 Paid first installment on note due to Naples Bank