On December 31, 2015. Cimmaron purchased $5,000 of merchandise inventory on a one-year, 10% note payable Cimmaron uses a perpetual inventory system. Requirements 1. Journalize the company's purchase of merchandise inventory on December 31, 2015 2. Journalize the company's accrual of interest expense on June 30, 2016, its fiscal year-end. 3. Journalize the company's payment of the note plus interest on December 31, 2016. (Record debits first, then credits Select the explanation on the last line of the journal entry table) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2015, Date Accounts and Explanation Debit Credit Dec 31 Requirement 2 Journalize the company's accrual of interest expense on June 30, 2016, its fiscal year-end Date Accounts and Explanation Debit Credit Jun 30 Requirement 3. Journalize the company's payment of the note plus interest on December 31, 2016. (Prepare a single compound entry for this transaction) Accounts and Explanation Credit Dec. 31 Date Debit