Please help. I understand part a. But I am having issues with part b:

Described below are certain transactions of Whispering Corporation. The company uses the periodic inventory system.

1. On February 2, the corporation purchased goods from Coronado Company for $76,700 subject to cash discount terms of 2/10, n/30. Purchases and accounts payable are recorded by the corporation at net amounts after cash discounts. The invoice was paid on February 26.

2. On April 1, the corporation bought a truck for $49,000 from Cullumber Motors Company, paying $3,000 in cash and signing a 1-year, 10% note for the balance of the purchase price.

3. On May 1, the corporation borrowed $78,300 from Chicago National Bank by signing a $87,420 zero-interest-bearing not due 1 year from May 1.

a. Make all the journal entries necessary to record the transactions above using appropriate dates

Jan 2

Purchases 75166

Accts Payable 75166

January 26

Accounts Payable 75166

Purchase Discounts Lost 1534

Cash 76700

April 1

Trucks 49000

Cash 3000

Notes Payable 46000

May 1

Cash 78300

Discount on Notes Payable 9120

Notes Payable 87420

b. Whispering Corporations year end is December 31. Assuming that no adjusting entries relative to the transactions above have been recording, prepare any adjusting journal entries concerning interest that are necessary to present fair financial statements at December 31. Assume straight-line amortization of discounts.

December 31

December 31

December 31