Question

P11-27A (similar to) Question Help The following transactions of Philadelphia Pharmacies occurred during 2017 and 2018 (Clck the icon to view the transactions.) Journalize the transactions in Philadelphia's general journal. Explanafions are not required Round to the nearest dollar (Record debits first, thon credits Exclude explanations from journal entries) Jan 9, 2017 Purchased computer equipment at a cost of $16.000, signing a six-month, 6 % note payable for that amount Date Accounts Debit Credit More Info -X Jan. 9 2017 9 Purchased computer equipment at a cost of $16,00, signing a six month 6 % note payable for that amount 29 Recorded he weok's sales of $67,000, three-forths on credit and one fourth for cash Sales amounts are uabject 6 Sont the last week's salesitax to the state Jan isi a 6% state sales tax Ignore cost of goods sold Feb 9 Paid the six month 6% note plus interest, at maturity 31 Purchased merchandise inventory for $15 000, signing a sie-month, 10% note payable The company uses the perpetual inventory system Dec 31 Accued wananty expense, which is astimated at 2% of sales of 5602.000 31 Accrued inteest on all outstanding nates payable Jul Aug ct: 0 2018 Feb 28 Paid the six month 10 % note, plus inderest at maturity wt to Choose from any Ist or enter any number in the inpt fieids and then click Check Arswer Print Done 7 parts remaining (ACCT 204-03)s based an Mler NoblesMasson Horngren's Finas

Answer 1

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Credit($) Date(DD/MM/YYYYY) 09-01-2017 Accounts Computer Equipment A/c Dr. To 6% Note Payable A/C Debit ($) 16,000.00 16,000.00 29-01-2017 53,265.00 17,755.00 Cash A/c Dr. Accounts Receivable A/c Dr. To Sales A/C To State sales tax payableA/ 67,000.00 4,020.00 05-02-2017 Sales Tax Payable A/c Dr. 4,020.00 To Cash A/C 4,020.00 09-07-2017 6% Notes Payable A/c Dr. Interest Expense A/c Dr.(16000*6%*0.5 years) To Cash A/C 16,000.00 480.00 16,480.00 31-08-2017 Purchase A/c Dr. 15,000.00 To 10% Note Payable A/C 15,000.00 31-12-2017 12,040.00 Warranty Expense A/c Dr.(602000*2%) To Warranty Liability A/C 12,040.00 31-12-2017 500.00 Interest Expense A/c Dr.(15000*10%*4/12) To Interest Payable A/C 500.00 28-02-2018 10% Note Payable A/c Dr. Interest Payable A/c Dr. Interest Expense A/c Dr. 15,000.00 500.00 250.00 To Cash A/C 15,750.00