PB10-2 (Algo) Recording and Reporting Current Liabilities with Evaluation of Effects on the Debt-toAssets Ratio [LO 10-2, LO 10-5] Tiper Compary completed the following transactions. The annual accounting period ends December 31. January 3 purchaked merchasdise on aceoast at a oost of 544,000 . (Aasune a perpetual inventery nystes.) January 27 haid for the Jahuary 3 purchase. Neril i Recelved $100,000 fron Atlantie Bank after signing a 12-nonth, 7,0 percent promissory note, June 13 Purchased merchandise on aceosnt at a cost of $12,000. July 25 Faid for the Aune 13 purchane. ascunting to 112,000 . Decerber 3i beterzined wages of $32,000 were earned but not yot paid on Deceaber 31 ( 1 gnore payrol1 caxes). Decexber 3 Adjurted the aceounts at year-esd, relating to interest. Deceaber 31 hafforted the acoounts at year-end, relating to rent, Required: 1. 8. 2. Prepare journal entries for each of the transactions through August 1 and any adjusting entries required on December 31 . 3. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. Complete this question by entering your answers in the tabs below. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31 . intermediate calculations.)