P9-3 Trade Note Transactions LO 9.3 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. 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). Dec. 1 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 Adjusto's books, including the adjusting entries at the end of 2019. Assume a 360-day year