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On December 31,2015 . Finley purchased $15,000 of merchandise inventory on a one-year, 8% note payable. Finley uses a perpetual inventory system. Requirements 1. Joumalize

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On December 31,2015 . Finley purchased $15,000 of merchandise inventory on a one-year, 8% note payable. Finley uses a perpetual inventory system. Requirements 1. Joumalize the compary's purchase of mefchandise inventory on December 31, 2015. 2. Joumalize the company's accrual of interest expense on June 30, 2016, its fiscal year-end 3. Joumalize the company's payment of the pote plus interest on December 31, 2016 (Recoed debits first, then credils. Select the explandtion on the last line of the joumal entry table)

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