Concord corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. during the last part of 2017, concord had the following transactions related to notes payable. sept. 1 issued a $14,400 note to pippen to purchase inventory. the 3-month note payable bears interest of 6% and is due december 1. (concord uses a perpetual inventory system.)sept. 30 recorded accrued interest for the pippen note. oct. 1 issued a $22,800, 9%, 4-month note to prime bank to finance the purchase of a new climbing wall for advanced climbers. the note is due february 1.oct. 31 recorded accrued interest for the pippen note and the prime bank note.