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Suimby Sports Authority purchased inventory costing $30,000 by signing a 6% short-term, one-year note payable. The purchase occured on July 31,2021 . Quimby pays annual

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Suimby Sports Authority purchased inventory costing $30,000 by signing a 6% short-term, one-year note payable. The purchase occured on July 31,2021 . Quimby pays annual interest each year on Jully 31. Read the reauitements Firs, joumalize the compary's (a) purchase of inventory. (Record dobits fint then credits. Exclude explanations from joumal entries) Requirements Jouindite the company's (a) purchase of inventory, (D) accrual of imerest expense on Acil 30, 2022, which is the comparry/s fical year-end; and (c) payment of the note plus interest on Jily 31,20e2. Round you answers to Eie nearest bolance sheet at Apri 30, 2082, and on its incoine statement for the year ended on that dale

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