2017 Jan. 9 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount. 29 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. Feb. 5 Sent the last week's sales tax to the state. Jul. 9 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. Aug 31 Dec 31 Accrued warranty expense, which is estimated at 4% of sales of $609,.000. 31 Accrued interest on all outstanding notes payable. 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Journalizing liability transactions

The following transactions of Plymouth Pharmacies occurred during 2017 and 2018:

Journalize the transactions in Plymouth’s general journal. Explanations are not required. Round to the nearest dollar.

2017
Jan. 9
Purchased computer equipment at a cost of $12,000, signing a six-month,
9% note payable for that amount.
29 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.
Feb. 5 Sent the last week's sales tax to the state.
Jul. 9 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.
Aug 31
Dec 31
Accrued warranty expense, which is estimated at 4% of sales of $609,.000.
31
Accrued interest on all outstanding notes payable.
2018
Feb. 28
Paid the six-month 10% note, plus interest, at maturity.
Transcribed Image Text:2017 Jan. 9 Purchased computer equipment at a cost of $12,000, signing a six-month, 9% note payable for that amount. 29 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. Feb. 5 Sent the last week's sales tax to the state. Jul. 9 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. Aug 31 Dec 31 Accrued warranty expense, which is estimated at 4% of sales of $609,.000. 31 Accrued interest on all outstanding notes payable. 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity.
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