Sherlock Sports Authority purchased inventory costing $30,000 by signing a 44% short-term, one-year note payable. The purchase occurred on July 31, 2018. Sherlockpays annual interest each year on July31.

First, journalize the company's (a) purchase of inventory (Record debits first, then credits Excludeexplanations from jou Joumal Entry Accounts Debit Credit 2018 Journalize the company's (a) purchase of inventory, (b) accrual of interest expense on April 30, 2019, which is the company's fiscal year-end: and (c) payment of the note plus interest on July 31, 2019. (Round your answars to the nearest whole number) (d) Show what the company would report for liabilties on its balance sheet at April 30, 2019, and on its income statement for the year ended on that date Jul 31 Next, joumalize the company's (b) accrual of interest expense on April 30, 2019, which is the company's fiscal year-end. Journal Entry Date Accounts Debit redit Cash Interest Expense Interest Payable Inventory Note Payable, Short-term 2019 Apr 30 Now, journaliza the company's (c) payment of the note plus interast on July 31, 2019. (Record debits first, then credits. E Journal Entry Date 2019 u 31 Accounts Debit Credit (d) Show what the company would report for liabilities on its balance sheet at April 30, 2019, and on its income statement for the year ended on that date Bagin by showing what the company would report for liabilities on its balance sheet at April 30, 2019 Balance Sheet (partial) on April 30, 2019 Account Amount Cash Current assets: Current liabilities Interest expense Interest payable: Note payable, short-term Revenue Ungarned revenue Now show what the company would report on its income statement for the year ended April 30, 2019. Income Statement (partial), April 30, 2019 Account Amount Cash Current liabilities Interest expense Interest payable Note payable, short-term Revenue Unearned revenus