SHOW LIST OF ACCOUNTS LINK TO TEXT Compute the total net liability to be reported on the December 31 balance sheet for: (1) The interest-bearing note (2) The zero-interest-bearing note c Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT O Type here to search Kieso, Intermediate Accounting, 16e Help I System Announcements uT tu BlaeRboard Exercise 13-2 The following are selected 2017 transactions of Larkspur Corporation. CALCULATOR PRINTER VERSION BACK Sept. 1 Purchased inventory from Encino Company on account for $58,600. Larkspur records purchases gross and uses a periodic inventory system Issued a $58,600, 12-month, 8% note to Encino in payment of account. Borrowed $58,600 from the Shore Bank by signing a 12-month, zero-interest-bearing $63,720 note. Oct. 1 Oct. 1 Prepare journal entries for the selected transactions above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account utomatically indented when amou nt is entered. Do not indent manually. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit September 1 Inventory 58,600 Accounts Payable 58,600 October 1 l Accounts Payable 58,600 58,600 Notes Payable Cash Discount on Notes Payable 58,600 October 1 5,120 63,720 Notes Payable SHOW LIST OF ACCOUNTS LINK TO TEXT enter 0 for the amounts. Credit account titles are decimal places, e.g. S,125.) 31. (If no entry is required, select "No Entry" for the account titles and o not indent manually. Round answers to o Credit Debit 847 PM automatically indented when amount is entered. D 2 Account Titles and Explanation 1,172 Date December 31 Interest Expense