The following are selected 2020 transactions of Bridgeport Corporation. Sept. 1 Oct. 1 Purchased inventory from Encino Company on account for $59,600. Bridgeport records purchases gross and uses a periodic inventory system. issued a $59.600, 12 month, 8% note to Encino in payment of account Oct Borrowed $59.800 from the Shore Bank by signing a 12-month zero-interest-bearing $62,480 note. 2 Prepare journal entries for the selected transactions above (if no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually Record entries in the order displayed in the problem statement.) Credit Debit Prepare adjusting entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,125.) Account Tities and Explanation Debit Credit Date December 31 (To record interest on the note) December 31 (To record discount on the note) Compute the total net liability to be reported on the December 31 balance sheet for: 111 The interest-beating note 5 (2) The zero interest-bearing