On December 1, 2019, Insto Photo Company purchased merchandise, invoice price $34,000, and issued a 6%, 120-day note to Ringo Chemicals Company, Insto uses the calendar year as its fiscal year and uses the perpetual imentory system. Required: Prepare joumal entries on insto's books to record the preceding intormation, inciuding the adjusting entry at the end of the yoar and payment of the note at maturity. Chart of Accounts Prepare joumal entries on Insto's books to record the purchuse information, inchuding the adjusting enty at the end of the year and payment of the note at matunity General Joumal Instructions