On December 31, 2017, Drexle purchased $5,000 of merchandise inventory on a one-year, 7% note payable. Drexle uses a perpetual inventory system. Read the requirements (Record debits first, then credits. Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017 Date Accounts and Explanation Debit Credit 2017 Dec. 31 Requirement 2. Journalize the company's accrual of interest expense on June 30, 2018, its fiscal year-end. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Requirement 3. Journalize the company's payment of the note plus interest on December 31, 2018. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit 2018 Dec. 31 Credit Requirement 2. Journalize the company's accrual of interest expense on June 30, 2018, its fiscal year-end Date Accounts and Explanation Debit 2018 Jun 30 * Requirements - X Requirement 3. compound entry single 1. Journalize the company's purchase of merchandise inventory on December 31, 2017 2. Journalize the company's accrual of interest expense on June 30, 2018 its fiscal year-end 3. Journalize the company's payment of the note plus interest on December 31 2018 Date Credit 2018 Dec. 31 Print Done Choose from any list or enter any number in the input fields and then continue to the next question 6-57 PM 10/22/2020 Bi T