4. Accounts and Notes Payable The following are selected 2019 transactions of Higley Company. Nov 1 Purchased inventory on account for S300,000 from Seller Company. Higley uses the perpetual inventory method. Dec 1 Issued a $300,000, 9-month, 6% note payable to Seller Company in payment of the November 1 account payable. Dec 1 Borrowed $400,000 from Third National Bank by signing a 12-month, zero- interest bearing $376,000 note payable. Instructions: (a) Prepare journal entries for each of the transactions above, (b) Prepare adjusting entries at December 31, 2019, for the transactions above