The following transactions of Wholesale Pharmacies occurred during 2024 and 2025: (Click the icon to view the transactions.) Read the requirements Interest Payable 105,625 More info Mar. 1, 2024 Jan 1, 2025: Paid Sammon Bank monthly mortgage payment. Date Accounts Debit Credit Dec. 1, 2024 2025 Jan. 1 500 Interest Payable Mortgage Payable Cash Dec. 31, 2024 Dec 31, 2024 Borrowed 5975,000 from Nelson Bank. The 15-year, 13% note requires payments due annually, on March 1. Each payrrient consists of $65.000 principal plus one year's interest. Mortgaged the warehouse for $200,000 cash with Sammon Bank. The mortgage requires monthly payments of $7,000. The interest rate on the note is 3% and accrues monthly. The first payment is due on January 1, 2025 Recorded interest accrued on the Sammon Bank note. Recorded interest accrued on the Nelson Bank note. Paid Sammon Bank monthly mortgage payment. Paid Sammon Bank monthly mortgage payment. Paid Sammon Bank monthly mortgage payment. Paid first installment on note due to Nelson Bank. 6.500 7,000 Jan. 1, 2025 Feb. 1, 2025 Mar. 1, 2025 Mar. 1.2025 Feb. 1, 2025: Paid Sammon Bank monthly mortgage payment Date Accounts Debit Credit 2025 Feb. 1 Interest Expense Print Done Mortgage Payable Cash