Record the following transactions for Shark Company assuming the company uses the periodic inventory system. a. On March 10, the company purchased goods from Bait Company for $42,000 subject to cash discount terms of 1/10, n/30. Purchases and accounts payable are recorded by the company at gross amounts. The invoice was paid on March 19. b. On April 1, the company borrowed $172,000 from Omega National Bank by signing a $200,000 zero-interest- bearing note due two years from April 1. On June 30, the company bought a fishing boat for $40,000 from Open Water Corporation, paying $6,000 in cash and signing a two-year, 8% note for the balance of the purchase price. c. Instructions Prepare the journal entries necessary to record the transactions above using appropriate dates. Prepare the adjusting entries necessary at December 31. Show all work for full credit