P11-27A Journalizing liability transactions Learning Objectives 1, 3 Ihc following transactions of Plymouth Pharmacies occurred during 2017 and 2018: Jan. 29 Cash $16,695 2017 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount. Recorded the week's sales of $63,000, three-fourths on credit and one- fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Sent the last week's sales tax to the state. Paid the six-month, 9% note, plus interest, at maturity. Purchased merchandise inventory for $9,000, signing a six-month, 10% note payable. The company uses the perpetual inventory system. Accrued warranty expense, which is estimated at 4% of sales of $609,000. Accrued interest on all outstanding notes payable. Jan. 9 29 Feb. 5 Jul. 9 Aug. 31 Dec. 31 31 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity