Northland 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 305-day year is used for calculations Oct 14, 2019 Sold merchandise to MNTR Racing, receiving a 60 day percent note for $5,200 (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Transactions Date X Accounts Debit Credit Od 2019 Oct 14 Sold merchandise to MNTR Racing, receiving a 60 day. 9 percent note for $5,200 Nov. 16 Sold merchandise to Victory Racing, receiving a 72-day, 3 percent note for $9,000 Dec 13 Received amount due from MNTR Racing Dec. 31 Accrued interest on the Victory Racing note 2020 Jan 27 Collected in full from Victory Racing Print Done