On December 31, 2017, hanhce purchased $11,000 of merchandise rventory on a one-year, 8% note payable. Ivanhoe uses a perpetual rwertry system. Read the recuitements (Record debits first, then credits. Select the explanation on the last line of the joumal entry table) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017 Date 2017 Dec. 31 Accounts and Explenation Debit Credit Requirements 1. Joumalize the compsny's purchase of merchandise inventory on December 1,2017 2. Joumalize the compsny's accrual of interest expense on June 30, 2018, its fiscal year-end. 3. Jou umalize the companys payment of the note plus interest on December 31 2018 Print Done