The following are selected 2020 transactions of Concord Corporation. Sept. 1 Oct. 1 Purchased inventory from Orion Company on account for $43,600. Concord uses a periodic inventory system Issued a $43,600, 12-month, 8% note to Orion in payment of Concord's account. Borrowed $76,800 from the bank by signing a 12-month, non-interest-bearing $80,200 note. 1 Your answer is partially correct. Prepare the journal entries for the payment of the notes at maturity. Assume no other accruals of interest were recorded since the December 31, 2020 year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Oct. 1/21 Notes Payable 43600 Prepare the journal entries for the payment of the notes at maturity, assuming the company uses reversing entries. (Show the reversing entries at January 1, 2021.) (Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Orion Note Credit Jan. interest 823 ex Oct. 1 NO 43400 COS 3460 ca Bank Note | DI Jan. 1 No Entry Interest Expense 3488 cash 47088 Bank Note Jan. No Entry 1 O no Oct. 1 no No Entry (To accrue interest expense on non-interest-bearing note) Oct. 1 note 80000 Cash B0000 (To record repayment of non-interest-bearing note)