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Jamison Sports Authority purchased inventory costing $25,000 by signing a 12%, six-month, short-term note payable. The purchase occurred on January 1, 2021. Jamison will pay

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Jamison Sports Authority purchased inventory costing $25,000 by signing a 12%, six-month, short-term note payable. The purchase occurred on January 1, 2021. Jamison will pay the entire note (principal and interest) on the note's maturity date of July 1, 2021. Journalize the company's (a) purchase of inventory; and (b) payment of the note plus interest on July 1, 2021. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Journalize the company's purchase of inventory. (b) Journalize the company's payment of the note plus interest on July 1, 2021

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