are selected 2010transcation of Dana 8. The following are Corporation. Sept.1 Purchased inventory from Orion Company on account for $50,000. Dana records purchase gross and use a periodic inventory system. Oct. 1 Issued a $50,000, 12-month,8% note to Orion in payment of account. Oct.1 Borrowed $75,000 from the Sohar Bank by signing a 12- month, zero-interest-bearing $81,000 note. Instruction: a- Prepare journal entries for the selected transactions above. b- Prepare adjusting entries at December 31. c- Compute the total net liability to be reported on the balance sheet for: 1- The interest-bearing note. 2- The zero-interest-bearing note.