The following transactions of Denver Pharmacies occurred during 2011 and 2012:

Requirement
1. Journalize the transactions in Denver€™s general journal. Explanations are notrequired.

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2011 Purchased computer equipment at a cost of $9,000, signing a six-month, 6% note payable for that amount. Recorded the week's sales of $64,000, three-fourths on credit, and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. 5 Sent the last week's sales tax to the state. Borrowed $204,000 on a four-year, 10% note payable that calls for $51,000 annual installment payments plus interest. Record the current and long-term portions of the note payable in two separate accounts. Paid the six-month, 6% note, plus interest, at maturity. Purchased inventory for $12,000, signing a six-month, 9% note payable. Accrued warranty expense, which is estimated at 2% of sales of $603,000. Accrued interest on all outstanding notes payable. Make a separate interest accrual for each note payable. Jan 9 29 Feb 28 Jul 9 Aug 31 Dec 31 31 2012 Feb 28 Paid the first installment and interest for one year on the four-year note payable. Paid off the 9% note plus interest at maturity. 29