Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 3

Journalizing liability transactions and reporting them on the balance sheet
The following transactions of Johnson Pharmacies occurred during 2014 and 2015:

Requirement
1. Journalize the transactions in Johnson Pharmacies' general journal. Round all answers to the nearest dollar. Explanations are not required.
2. Assume Johnson Pharmacies only adjusts the current portion of long-term notes on the last day of each year, December 31. Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2015.