Journalize the company's purchase of inventory.

1. Journalize the company's purchase of inventory. 2. Make the adjusting entry for accrual of interest on the note payable on December 31 , 2022. 3. At December 31,2022 , what is reported on the balance sheet related to this note payable? 4. Record the payment of the note payable (principal and interest) on its maturity date. On August 1,2022, The Chateau at Mill Lake, Inc., purchased inventory costing $42,000 by signing a 7%, six-month, short-term note payable. The company will pay the entire note (principal and interest) on the note's maturity date. Requirement 1. Journalize the company's purchase of inventory. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Requirement 2. Make the adjusting entry for accrual of interest on the note payable on December 31,2022 . (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Requirement 3. At December 31, 2022, what is reported on the balance sheet related to this note payable? (If an input field is not used in the table, leave the field empty; do not select a label or enter a zero.) Balance Sheet (partial) on December 31, 2022 Account Amount Requirement 4. Record the payment of the note payable (principal and interest) on its maturity date. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry