On August 1, 2022, The Resort at Mil Lake, Inc. purchased inventory costing $50,000 by signing a 6%, 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 CID Requirement 1. Journalize the company's purchase of inventory (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Arcounte Debit Credit