Exercise 13-2 The following are selected 2017 transactions of Coronado Corporation Sept. 1 Purchased inventory from Encino Company on account for $51,200. Coronado records purchases gross and uses a peniodic inventory system Oct. 1 Oct. 1 Issued a SS 1,200, 12-month, 8% note to Enano in payment of account. Borrowed $51,200 from the Shore Bank by signing a 12-month, zero-interest-bearing $54,840 note. Prepare journal entries for the selected transactions above. (If no entry is required, select "No Entry for the account titles and enter 0 for the displayed in the problem statement.) Account Titles and Explanation Date Debit Credit October Prepare adjusting entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Cre Credit Debit Account Titles and Explanation Date December 31 To record interest on the note) December 31 (To record discount on the note) Compute the total net liability to be reported on the December 31 balance sheet for: (1) The interest-bearing notes (2) The zero-interest-bearing notes Click if you would like to Show Work for this question: Oreh Show. Work m.png