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angruentament Mindorobert gnmentes montocitor Bogste eBook Calculator Problem 8-76A (Algorithm) Interest-fearing Note Replacing an Unpaid Account Payable Conti Products wed $50,000 on account for inventory purchased on December 1, 2020. Contes a perpetual Inventory system and has a fiscal year that ends on December 31. Coel was able to pay the amount owed by the March 1, 2021 due date because of financial difficulties. On March 1, 2021. Conti signed a 6-month, $50,000, 8. Interest-bearing note. This nute was repaid with interest on September 1, 2021 Required: no entry is required, select "No entry required and leave the amount boxes blank 1. Prepare the entry recorded on December 1, 2020 2020 Dec 1 (Record purchase of inventory on account) 2. Prepare the adjusting entry recorded on December 31, 2020. 2020 Dec 31 Year end adjustment) 3. Prepare the entry recorded on March 1, 2021 2021 Mar Previous Check My Work 10 more works omaning Save and Email All work sav. Sutrage for Grad 600 TV + 300 2020 Dec 1 (Record purchase of inventory on account) 2. Prepare the adjusting entry recorded on December 31, 2020. 2020 Dec. 31 (Year end adjustment) 1. Prepare the entry recorded on March 1, 2021. 2021 Mar. 1 (Record issuance of note to cover unpaid account payable) 4. Prepare the entry recorded on September 1, 2021. If an amount box does not require an entry, leave it blank. Do not found interim computations, Round final answer to whole dollar 2021 Sept. 1 110 000 (Record payment of note and interest

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