recorded. Requirement 2. Prepare the liabilities section of the balance sheet for Wholesale Pharmacies on March...

  

Transcribed Image Text:

recorded. Requirement 2. Prepare the liabilities section of the balance sheet for Wholesale Pharmacies on March 1, 2019 after all the journal entries are First, prepare an amortization schedule for the Sandi Bank mortgage to March 1, 2020. Prepare the schedule for the first three payments, then the remaining months Review the related journal entries you prepared in Requirement.1. Beginning Balance 12/01/2018 1/01/2019 S 350,000 $ 2/01/2019 347,042 3/01/2019 344,066 4/01/2019 341,073 5/01/2019 338,063 6/01/2019 335,035 7/01/2019 331,989 8/01/2019 Principal Payment. 2,958 $ 2,976 2,993 3,010 3,028 3,046 3,063 Interest Expense Total Payment 2,042 $ 2,024 2,007 1,990 1,972 1,954 1,937 Enter any number in the edit fields and then click Check Answer. parts 8 remaining 5,000 5,000 5,000 5,000 5,000 5,000 5,000 O Ending Balance $ 350,000 347,042 i 344,066 341,073 338,063 335,035 331,989 328,926 Clear All i Journal Entries Date 2018 Dec. 1 Dec. 31 2019 Jan. 1 Feb. 1 Mar. 1 Clear All Cash Mortgage Payable Interest Expense Interest Payable Interest Payable Mortgage Payable Cash Interest Expense Mortgage Payable Cash Interest Expense Mortgage Payable Cash Accounts Print Done Debit 350,000 2,042 2,042 2,958 2,024 2,976 2,007 2,993 Credit 350,000 2,042 5,000 5,000 5,000 Check Answer X e do recorded. Requirement 2. Prepare the liabilities section of the balance sheet for Wholesale Pharmacies on March 1, 2019 after all the journal entries are First, prepare an amortization schedule for the Sandi Bank mortgage to March 1, 2020. Prepare the schedule for the first three payments, then the remaining months Review the related journal entries you prepared in Requirement.1. Beginning Balance 12/01/2018 1/01/2019 S 350,000 $ 2/01/2019 347,042 3/01/2019 344,066 4/01/2019 341,073 5/01/2019 338,063 6/01/2019 335,035 7/01/2019 331,989 8/01/2019 Principal Payment. 2,958 $ 2,976 2,993 3,010 3,028 3,046 3,063 Interest Expense Total Payment 2,042 $ 2,024 2,007 1,990 1,972 1,954 1,937 Enter any number in the edit fields and then click Check Answer. parts 8 remaining 5,000 5,000 5,000 5,000 5,000 5,000 5,000 O Ending Balance $ 350,000 347,042 i 344,066 341,073 338,063 335,035 331,989 328,926 Clear All i Journal Entries Date 2018 Dec. 1 Dec. 31 2019 Jan. 1 Feb. 1 Mar. 1 Clear All Cash Mortgage Payable Interest Expense Interest Payable Interest Payable Mortgage Payable Cash Interest Expense Mortgage Payable Cash Interest Expense Mortgage Payable Cash Accounts Print Done Debit 350,000 2,042 2,042 2,958 2,024 2,976 2,007 2,993 Credit 350,000 2,042 5,000 5,000 5,000 Check Answer X e do