On August 1, 2019, The Villas at Mill Lake, Inc., purchased inventory costing $50,000 by signing a16%, six-month, short-term note payable. The company will pay the entire note (principal and interest) on the note's maturity date. Read the requirements Requirement 1. Journalize the company's purchase of inventory. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Date Debit Credit 2019 Aug 1 Requirement 2. Make the adjusting entry for accrual of interest on the note payable on December 31, 2019. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Debit Credit Date 2019 Dec 31 Requirement 3. At December 31, 2019, what is reported on the balance sheet related to this note payable? (If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Balance Sheet (partial) on December 31, 2019 Account Amount Read the requirements. 2019 Dec 31 Requirement 3. At December 31, 2019, what is reported on the balance sheet related to this note payable? (If a box is not used in the table, leave the box empty, do not select a label or enter a zero.) Balance Sheet (partial) on December 31, 2019 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 Accounts Date Debit Credit 2020 Feb 1 Choose from any list or enter any number in the input fields and then continue to the next