The following are selected 2020 transactions of Headland Corporation. Sept. 1 Purchased inventory from Encino Company on account for $39,600. Head and records purchases gross and uses a periodic inventory system Oct. Issued a $39,600, 12-month, 8% note to Encino in payment of account. 1 Oct. 1 Borrowed $39.600 from the Shore Bank by signing a 12-month, zero-interest-bearing $43,120 note. muus on Lapidu duon Debit Interest Expense 792 Interest Payable Interest Expense 880 Discount on Notes Payable October 1 oc ere to search Than Discount on Notes Payable October 1