Interert-Bearing Note Replacing an Unpaid Account Payable Conti Products owed $50,000 on account for inventory purchased on December 1, 2024. Conti uses a perpetual inventory system and has a fiscat year that ends on December 31 . Conti was unable to pay the amount owed by the March 1, 2025, due date because of financial difficulties. On March 1, 2025, Conti signed a 6-month, 550,000, 8.44 interest-bearing note. This note was repaid with interest on July 1,2025 . Requiredt If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank, 1. Prepare the entry recorded on December 1,2024 . 201 4. Prepare the entry recorded on September 1, 2025. Do not round intermediate calculations. Round final answers to whole dosiar. 2025 Sept: 1 If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. 2. Prepare the adjusting entry recorded on December 31,2024 . 2024 Dec 31 (Year end adjustment)