journalize the transactions in johnson pharmacies rsquo general journal round all an 570075

2014

Mar

1

Borrowed $100,000 from Naples Bank. The five year, 15% note requires payments
due annually, on March 1. Each payment consists of $20,000 principal plus one year’s interest.

Mar

1

Reclassified current portion of the Naples Bank note.

Dec

1

Mortgaged the warehouse for $400,000 cash with Sage Bank. The mortgage requires monthly payments of $8,000. The interest rate on the note is 7% and accrues monthly. The first payment
is due on January 1, 2015.

Dec

1

Reclassified current portion of the Sage Bank note for the principal due in 2015 of $70,634.

Dec

31

Recorded interest accrued on the Sage Bank note.

Dec

31

Recorded interest accrued on the Naples Bank note.

2015

Jan

1

Paid Sage Bank monthly mortgage payment.

Feb

1

Paid Sage Bank monthly mortgage payment.

Mar

1

Paid Sage Bank monthly mortgage payment.

Mar

1

Paid first installment on note due to Naples Bank.