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Kingston Sports Authority purchased imventory costing $23,000 by signing a 6%, six-thonth, shorteterm note payable. The purchase occurred on March 1, 2021 . Kingston will
Kingston Sports Authority purchased imventory costing $23,000 by signing a 6%, six-thonth, shorteterm note payable. The purchase occurred on March 1, 2021 . Kingston will pay the entire note (principal and interesi) on the nose's maturity date of September 1, 2021. Journalize the compary's (a) purchase of inventory, and (b) payment of the nota plus interest on September 1.2021. (Record dobits first, then credits. Exclude explanatons from any journal entries.) (o) Joumalize the company's purchase of inventory. (b) Joumalize the company's payment of the note plus inserest ca September 1. 2021
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