Question: Please help by showing how to get each number. Will rate. E13-2 (L01) EXCEL (Accounts and Notes Payable) The following are selected 2017 transactions of

Please help by showing how to get each number. Will rate.

Please help by showing how to get each number. Will rate. E13-2

E13-2 (L01) EXCEL (Accounts and Notes Payable) The following are selected 2017 transactions of Sean Astin Corporation Sept. 1 Purchased inventory from Encino Company on account for $50,000. Astin records purchases gross and uses a periodic inventory system Issued a $50,000, 12-month, 8% note to Encino in payment of account. Oct. 1 Oct.1 Borrowed $50,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $54,000 note. Instructions nal l entries for the selected transactions above. (b) Prepare adjusting entries at December 31 (c) Compute the total net liability to be reported on the December 31 balance sheet for: (1) (2) The interest-bearing note. The zero-interest-bearing

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