The following transactions of Johnson Pharmacies occurred during 2024 and 2025:

Requirements
1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations are not required.
2. Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2025, after all the journal entries are recorded.

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2024 Mar. 1 Dec. 1 31 31 2025 Jan. 1 Feb. 1 Mar. 1 1 Borrowed $450,000 from Coconut Creek Bank. The 15-year, 5% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Mortgaged the warehouse for $250,000 cash with Saputo Bank. The mortgage requires monthly payments of $8,000. The interest rate on the note is 12% and accrues monthly. The first payment is due on January 1, 2025. Recorded interest accrued on the Saputo Bank note. Recorded interest accrued on the Coconut Creek Bank note. Paid Saputo Bank monthly mortgage payment. Paid Saputo Bank monthly mortgage payment. Paid Saputo Bank monthly mortgage payment. Paid first installment on note due to Coconut Creek Bank.