1. Journalize the following entries on the books of the borrower and creditor. Label accordingly. (Assume a 360-day year is used for interest calculations.) Jun. 1 Jun. 30 Aug. 29 Regis Co. purchased merchandise on account from Winthrop Co., $60,000, terms n/30. Regis Co. issued a 60-day, 5% note for $60,000 on account. Regis Co. paid the amount due. #1- JUNEI UNE 30 4810 NAME Albert Babalen REGIS WINTHROP JUNEI JUNE 30 1929 Aug 29