Conti Products owed $80,000 on account for inventory purchased on December 1, 2018. Conti 31. Conti was unable to pay the amount owed by the March 1, 2019, due date because of financial dificulties. On March 1, 2019, cont uses a perpetual Inventory system and has a fiscal year that ends on Decembe signed a four-month, $80,000, 6% int note. This note was repaid with interest on July 1, 2019. If no entry is required, type "No entry required" and leave the amount boxes blank 1. Prepare the entry recorded on December 1, 2018 2018, Dec.1 (Record purchase of inventory on account) 2. Prepare the adjusting entry recorded on December 31, 2018. 2018,Dec. 31 2018, Dec. 31 3. Prepare the entry recorded on March 1, 2019. 2019, Mar. 1 4. Prepare the entry recorded on July 1, 2019. For those boxes in which no entry is required, leave the box blank. 2019, July 1 Previous