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Would help if all 17 parts are solved :) % P14-31A (similar to) 19 Question Help The following transactions of Smith Pharmacies occurred during 2016
Would help if all 17 parts are solved :)
% P14-31A (similar to) 19 Question Help The following transactions of Smith Pharmacies occurred during 2016 and 2017: (Click the icon to view the transactions.) Requirements 1. Journalize the transactions in the Smith Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. 2. Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2017 after all the journal entries are recorded. 2016 merest Lapense J1,200 Dec. 31 Interest Payable 31,25 A More Info Jan 1, 2017 Paid Saylor Bank monthly mortgage payment. Date Accounts Debit Credit 2017 Jan. 1 2016 Mar. 1 Borrowed $375,000 from Longwood Bank. The fifteen-year, 10% note requires payments due annually, on March 1. Each payment consists of $25,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $350,000 cash with Saylor Bank. The mortgage requires monthly payments of $9,000. The interest rate on the note is 11% and accrues monthly. The first payment is due on January 1, 2017 31 Recorded interest accrued on the Saylor Bank note. 31 Recorded interest accrued on the Longwood Bank note. 2017 Jan. 1 Paid Saylor Bank monthly mortgage payment. Feb. 1 Paid Saylor Bank monthly mortgage payment. Mar 1 Paid Saylor Bank monthly mortgage payment. 1 Paid first installment on note due to Longwood Bank Choose from any list or enter any number in the input fields and then click Check Answer. Done 17 parts Print 17 remainingStep by Step Solution
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