1. Parts Palace sold Smashed merchandise at a price of $300. 2. Smashed sold Parts Palace merchandise at a price of $400. 3. $75 remained owing by Parts Palace at 31 December 2019 for the merchandise sold to it by Smashed. 4. Parts Palace's inventories included merchandise bought from Smashed of: a. $50 at the beginning of 2019, and b. $60 at the end of 2019. 5. Smashed's 2019 inventories included merchandise bought from Parts Palace of: a. Beginning: $30, and b. Closing: $35. 6. The 'Other non-current assets' on Parts Palace's balance sheet includes a long-term loan to Smashed of $800. 7. The terms of the loan to Smashed require 8% annual interest payments. The loan was made on 1 January 2019 and interest is paid on 31 December each year. b Canin You are only required to prepare journal entries I DI