Problem 1 : P11-27A This question nas 2 requirements. Scroll down to review the requirements and ensure you complete all requirements before submitting your work for grading. The following transactions of Houston Pharmacies occurred during 2015 and 2016. Requirements: The accounts used by Houston Pharmacies are provided in the Chart of Accounts (click on Chart of Accounts to view). The accounts have already been opened in the General Ledger (click on General Ledger to view). 1. Prepare journal entries to record the transactions of Houston Pharmacies and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries including the changes in each account 01/09/2015 Purchased computer equipment at a cost of $13,000, signing a six-month, 9% note payable for that amount. 01/29/2015 Recorded the week's sales of $66,000, three-fourths on credit and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. 02/05/2015 Sent the last week's sales tax to the state. zino1015 Daid the civ month 001. nato sue interact at maturity 07/09/2015 Paid the six-month, 9% note, plus interest, at maturity. 08/31/2015 Purchased merchandise inventory for $6,000, signing a six-month, 10% note payable. The company uses the perpetual inventory system. 12/31/2015 Accrued warranty expense, which is estimated at 3% of sales of $601,000. Von 1/2013 ,vov, , 0 . vc system. 12/31/2015 Accrued warranty expense, which is estimated at 3% of sales of $601,000. 12/31/2015 Accrued interest on all outstanding notes payable. 02/29/2016 Paid the six-month 10% note, plus interest, at maturity. Account # 10100 10400 10550 10600 11250 20150 20200 20400 20450 21000 40100 50650 70100 Description Cash Accounts Receivable Interest Receivable Merchandise Inventory Computer Equipment Notes Payable, Short-term Interest Payable Sales Tax Payable Estimated Warranty Payable Notes Payable, Long-term Sales Warranty Expense Interest Expense Type Current Asset Current Asset Current Asset Current Asset Property, plant, and Equipment Current Liability Current Liability Current Liability Current Liability Long-term Liability Sales Revenue Operating Expense Other Expense