Question

The following transactions of Plymouth Pharmacies occurred during 2013 and 2014:
2013
Jan. 9 Purchased computer equipment at a cost of $ 7,000, signing a six-month, 9% note payable for that amount.
29 Recorded the week’s sales of $ 67,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold.
Feb. 5 Sent the last week’s sales tax to the state.
Jul. 9 Paid the six-month, 9% note, plus interest, at maturity.
Aug. 31 Purchased merchandise inventory for $ 6,000, signing a six-month, 11% note payable. The company uses a perpetual inventory system.
Dec. 31 Accrued warranty expense, which is estimated at 4% of sales of $ 608,000.
31 Accrued interest on all outstanding notes payable.
2014
Feb. 28 Paid off the 11% note plus interest at maturity.
Journalize the transactions in Plymouth’s general journal. Explanations are not ­required.



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  • CreatedJanuary 16, 2015
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