Exercise 13-2 The following are selected 2017 transactions of Pronghorn Corporation Purchased inventory from Encino Company on account for $37,600. Pronghorn records purchases gross and uses a periodic inventory system. Sept. 1 Issued a $37,600, 12-month, 8% note to Encino in payment of account Oct. 1 Oct. 1 Borrowed $37,600 from the Shore Bank by signing a 12-month, zero-interest-bearing $40,920 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 amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record entries statement.) the order displayed in the problem are res or ered Da not nelent ery s uedicndad in the arable statemot for the amounts Credit acceent titles are automatically Account Ttles and Explanations Debitn Credit Date October 1 count titles and enter 0 for the amounts. Credit account titles are automatically indented when a nt is ntered Do not indent manually, Round answersI 0 decimal places, e.a. 5.125.) Account Titles and Explanation Debit Credit Date December 31 (To record interest on the note) December 31 (To record discount on the note) LINK TO TEXT Compute the total net liability to be reported on the December 31 balance sheet for (1) The interest-bearing note (2) The zero-interest-bearing