Exercise 13-2 The following are selected 2017 transactions of Pearl Corporation Sept. 1 Oct. 1 Oct. 1 Purchased Inventory from Encino Company on account for $43,000. Pearl records purchases gross and uses a periodic Inventory system. Issued a $40,000, 12-month, 8% note to Encino in payment of account. Burrowed $43,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $45,440 note. Your answer is correct. for the amounts. Credit account titles are automatically Indented when amount is entered. Do not Indent manually. Prepare journal entries for the selected transactions above. (If no entry is required, select "No Entry" for the account titles and enter Record entries in the order displayed in the problem statement.) Debit Credit Date September i Account Titles and Explanation TPurchases | Accounts Payable October 1 Accounts Payable | Notes Payable October 1 Discount on Notes Payable Notes Payable 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is incorrect. Try again. Prepare adjusting entries at December 31. (If no entry is required, select "No Entry for the account tities and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit December 31 (To record interest on the note) December 31 SHOW LIST OF ACCOUNTS x Your answer is incorrect. Try again. Compute the total net liability to be reported on the December 31 balance sheet for: (1) The interest-bearing note 42140 bearing note (2) The zero-interest-bearing note 45580 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS