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Journalize the? company purchase of merchandise inventory

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Reference no: EM132477624

On December 31?, 2017 Kingston $6000 of merchandise inventory on a? one-year, 10?% note payable. Kingston uses a perpetual inventory system.

Question 1: Journalize the? company's purchase of merchandise inventory on December 31?, 2017

Question 2: Journalize the? company's accrual of interest expense on June 30?, 2018 its fiscal? year-end.

Question 3: Journalize the? company's payment of the note plus interest on December 31?, 2018

  • ?(Record debits? first, then credits. Select the explanation on the last line of the journal entry? table.)

Reference no: EM132477624

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