On December 31, 2015, Edgmont purchased $15,000 of merchandise inventory on a one-year, 10% note payable. Edgmont 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.)

On December 31, 2015, Edgmont purchased $15.000 of merchandise Inventory on a one-year, 10% neto payable. Edymnort uses a perpetual invertory system Requirements 1. Journalize the company's purchase of merchandise inventory on December 31, 2015 2. Joumalize the company's accruat of interest expense on June 30, 2016, its fiscal year-end, 3. Journalise the company's payment of the role plus interest on December 31, 2016. Record debit first, then tradits Select the explanation on the lastne 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 De 31 Requirement 2. Joumalize the company's accrual of Interest expense on June 30, 2016, its fiscal year-end Date Account and Explanation Dube Cred Jun 30 Choose from any list or enter any number in the input fields and then continue to the next question On December 31, 2015, Edgment purchased $15.000 of merchandise inventory on a one year 10% neto payable Edgemont uses a perpetual inventory system Requirements 1. Joumalize the company's purchase of merchandise inventory on December 31, 2015 2. Joumalize the company's accruat of interest expense on June 30, 2016, is niscal year-end, Journalize the company's payment of the note plus interest on December 31, 2016 Record debits first, the credits Select the explanation on the lastne of the journal entry table. Jun 30 Requirement 3. Journalto the company's payment of rende pius interest on December 31, 2016. Prepare a single compound entry for the transaction) Accounts and explanation Dec 31 Debat Cred Choose from any list or enter any number in the input fields and then continue to the next