North Star Company, which has a December 31 year-end and uses a periodic inventory system, completed the following transactions during 2019 and 2020. (Click the icon to view the transactions.) Required Prepare the necessary journal entries to record the transactions. Assume that a 365-day year is used for calculations. Transactions - X 600. (Record 2019 redit Oct. 14 Sold merchandise to JAPK Racing, receiving a 60-day, 8 percent note for $5,600. Nov. 16 Sold merchandise to Supine Racing, receiving a 72-day, 6 percent note for $9,500. Dec. 13 Dec. 31 2020 Received amount due from JAPK Racing. Accrued interest on the Supine Racing note. Jan. 27 Collected in full from Supine Racing. javascript:doExercise(4); Tune here to search O T ext question 16