S11-1 On July 31, 2019, Mission Co. purchased $32,000 of inventory on a one- year, 6 percent note payable. Journalize the company's (a) accrual of interest expense on December 31, 2019, and (b) payment of the note plus interest on July 31, 2020. 1 Accounting for a note payable b. Credit Cash for $33,920 S11-2 Refer to the data in S11-1. Show what Mission Co. reports for the note payable and related interest payable on its balance sheet at December 31, 2019, and on its income statement for the year ended on that date. Reporting a short-term note payable and the related interest Interest Expense, $800