Exercise 13-2 The following are selected 2017 transactions of Teal Corporation. Purchased inventory from Encino Company on account for $43,000. Teal records purchases gross and uses a periodic inventory system. Sept. 1 Issued a $43,000, 12-month, 8% note to Encino in payment of account. Oct. 1 Borrowed $43,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $46,440 note. Oct. 1 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 (2) The zero-interest-bearing note Click if you would like to Show Work for this question: Open Show Work