HW E 13-2 (Accounts and Notes Payable)The following are selected 2015 transactions of DarbyCorp: Sept 1 Purchased inventory from Orion Company on account for$50,000.Darby records purchases g and uses a periodic inventory system. Oct.1 Issued a$50,000,12-month,8% note to Orion in payment of account. Oct.1 Borowed$75,000 from the Shore Bank by sianing a 12-month,zero-interest-bearing$81,000 hote Instructions (a)Prepare journal entries for the selected transactions above. (b)Prepare adjusting entries at December 31. (cCompute the total net liability to be reported on the December 31 statement of financial position for: (1)The interest-bearing note. (2)The zero-interest-bearing note.