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On January 31, 2018, Ivanhice, Co, purchased $16,000 of inventory with a one-year, 9 percent note payable. Joumalize the folowing for the campary 1. Accrual

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On January 31, 2018, Ivanhice, Co, purchased $16,000 of inventory with a one-year, 9 percent note payable. Joumalize the folowing for the campary 1. Accrual of interest expense on Decomber 31,2018 2. Payment of the nole plus interest on January 31,2019

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