4. Accounts and Notes Payable The following are selected 2021 transactions of Grove Company. Nov 1 Purchased inventory on account for $400,000 from Vendor Company. Grove uses the perpetual inventory method. Dec 1 Paid $100,000 to Vendor and issued a $300,000, 12-month, 6%note payable to Vendor Company for the November 1 account payable. Dec 1 Borrowed $400,000 from Third National Bank by signing a 12-month, zero- interest bearing $382,000 note payable. Instructions: (a) Prepare journal entries for each of the transactions above. (b) Prepare adjusting entries at December 31, 2021, for the transactions above.