1 MESSAGE HY INSTRUKTOR FULL SCREEN Exercise 13-2 The following are selected 2017 transactions of Cane Corporation Sept. 1 Purchased inventory from Engine Company on account for $55,600. Crane records puruses gross and uses a periodic ventory system Oct. 1 Issued a $55,600, 12 months note to Encinin payment of account Oct. 1 Borrowed $55,600 from the Shore Bank by signing a 12 month zero-terest bearing $59,960 note. your answer is correct. Prepare you al entries for the selected transactions above. C automatically indented when amount is entered on e m ntry is required select "No Entry for the accounts and enter for the amounts. Cred accounts are y orders in the order e d in the protestatement.) September 1- chases Accounts Payable October 1- Accounts Payable Notes Payable Discount on Notes Payable Notes Payable WINTER VERSION BACK NEXT 55600 Discount on Notes Payable Notes Payable Your answer is correct. Prepare adjusting entries December ( ne entry is required, select "No Entry for the accounts and enter for the amounts Credit accounties are automatically Indented when amount is entered. Do not inden manually. Round answers to decimal places... 5.125.) Articles and Exation Debit Credit interest Payable To record terest on the note) Interest Expense I 1090 Licence Songs Reserved. A Dion of h o c December 31 interest Expense CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Discount on Notes Payable (o record discount on the note) SHOW LIST OF ACCOUNTS SHOW SOLUTION your answer is incorrect. Try again. Compute the total net ability to be reported on the December 31 balance sheet for: (1) The interest bearing note (2) The zero interest bearing note Show Work is REQUIRED for this question: Open Show Work Question Attempts: 2 of 5 used SAVE FOR LATER SUBMIT ANSWER Let met B roker i 2000-2020 Ian Wr th Rights Reserved. A Division in