S9-1 (similar to) Question Help Drexle Sports Authority purchased inventory costing $24,000 by signing a 7% short-term note payable. The purchase occurred on September 30, 2014. Drexle pays annual interest each year on September 30. Journalize the company's (a) purchase of inventory; (b) accrual of interest expense on June 30, 2015, which is the year-end; and (c) payment of the note plus interest on September 30, 2015. (Round your answers to the nearest whole number.) (d) Show what the company would report on its balance sheet at June 30, 2015, and on its income statement for the year ended on that date. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Journalize the company's purchase of inventory. Journal Entry Accounts Debit Credit Date 2014 September 30