Gordon Sports Authority purchased inventory costing 24 000

Last updated: 9/22/2023

Gordon Sports Authority purchased inventory costing 24 000 by signing a 10 six month short term note payable The purchase occurred on June 1 2021 Gordon will pay the entire note principal and interest on the note s maturity date of December 1 2021 Journalize the company s a purchase of inventory and b payment of the note plus interest on December 1 2021 Record debits first then credits Exclude explanations from any journal entries a Journalize the company s purchase of inventory Date 2021 Journal Entry Accounts CITE Debit Credit