E8-22B. (Learning Objective 3: Purchase inventory, accrue interest, and pay a short-term note) On September 1, 2019, The Shoppes at Forest Lake, Inc., purchased inventory costing $63,000 by signing an 8%, six-month, short-term note payable. The company will pay the entire note (principal and interest) on the note's maturity date. Requirements 1. Journalize the company's purchase of inventory. 2. Make the adjusting entry for accrual of interest on the note payable on December 31, 2019. 3. At December 31, 2019, what is reported on the balance sheet related to this note payable? 4. Record the payment of the note payable (principal and interest) on its maturity date. E8-23B. (Learning Objective 3: Record note payable transactions) Cape Cod Sales Company completed the following note payable transactions: 2018 Apr 1 Purchased delivery truck costing $56,000 by issuing a one-year, 7% note payable. Accrued interest on the note payable. Dec 31 2019 Apr 1 Paid the note payable at maturity