17. On November 1, 2019, JJ sold some inventory to KG who was short on cash. JJ agreed to accept a $540,000 non-interest bearing, 6-month note receivable to be paid May 1, 2020. The inventory normally sales for $487,800. Prepare JJ's entries on the date of sale, December 31, 2019 year end, and the collection of the note of May 1, 2020. (Ignore COGS) 18. On December 1, 2019, JJ sold some inventory to CG who was short on cash. JJ agreed to accept a $250,000, 12%, 90-day note receivable to be paid March 1, 2020. Prepare JJ's entries on the date of sale, December 31, 2019 year end, and the collection of the note of March 1, 2020. (Ignore COGS)