Adjusto Corporation (which is on a December 31 fiscal year-end) engaged in the following transactions during 2019 and 2020:

2019

Nov. 1 Issued a 120-day, 12% note, face value of $20,000, to Johnson Company to settle an open account of that amount.

Dec. 1 Issued a 90-day, 12% note, face value of $32,000, to Winslow Corporation for the purchase of merchandise (the perpetual inventory method is used).

2020

Mar. 1 Paid the principal and interest on both the Johnson and the Winslow notes.

Required:

Prepare journal entries to record the preceding transactions on Adjustos books, including the adjusting entries at the end of 2019. Assume a 360-day year.