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On DecemberDecember 3131, 20172017, FinleyFinley purchased $ 17 comma 000$17,000 of merchandise inventory on a one-year, 77% note payable. FinleyFinley uses a perpetual inventory system.

On

DecemberDecember

3131,

20172017,

FinleyFinley

purchased

$ 17 comma 000$17,000

of merchandise inventory on a one-year,

77%

note payable.

FinleyFinley

uses a perpetual inventory system.

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. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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