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On December 31, 2023. Cimmaron purchased \$9,000 of merchandise inventory on a one-year, 11% note...

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Accounting

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On December 31, 2023. Cimmaron purchased \$9,000 of merchandise inventory on a one-year, 11% note payabie. Cimmaron uses a perpetual imentory system. Read the requirements (Record debits fist then credes. Select the explanution on the last line of the joumat entry tabla ) Requirement 1. Journalue the compary's purchase of merchandise invontory on December 31, 2023. On December 31,2023 , Cimmaron purchased $9,000 of merchandise inventory on a cne-year, 11% note payable. Cimmaron uses a perpetual inventory system. Read the roguirements. (Record dobits first, then credits, Select the explanation on the last line of the joumal entry table.) Requirement 2. Journalize the company's accrual of interest expense on June 30,2024 , its fiscal year-end

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