Accounts and Notes Payable The following are selected 2020 transactions of Toys R Us Corp. Sept.1 Purchased inventory from Wholesaler Ltd. on account for $50,000. Toys R Us Corp. uses a periodic inventory system. Oct. 1 Issued a $50,000,12-month, 8% note to Wholesaler Ltd in payment of Toys R Us' account. Oct 1 Borrowed $75,000 from the bank by signing a 12 -month, non-interest-bearing $81,000 note. 4 Instructions a. Prepare journal entries for the selected transactions above. b. Prepare adjusting entries at December 31,2020 . c. Calculate the net liability, in total, to be reported on the December 31, 2020 SFP for (1) the interest-bearing note, and (2) the non-interest-bearing