Question 4 On September 1, 2019, Blue Company Ltd. loaned $12,000 on a one year (due September 1, 2020), 6% note to BCM Corp. Blue Company's year end is December 31. Required Using the template below, prepare the journal entries for Blue Company to recognize the note, interest accrual and payment of the note from BCM Corp. Explanations are not required. DATE ACCOUNT DEBIT CREDIT Focus Question 5 Wholesale Foods reports the following for month ended December 31, 2019: Inventory, November 30, 2019 $525,000 Inventory, December 31, 2019 $630,000 December 2019 - Purchases on credit $375,000 December 2019 - Sales on credits $623,000 . Required 1. Calculate Cost of Goods Sold 2. Using the template below, prepare journal transactions for a periodic inventory system and a perpetual inventory system. Explanations are not required. Cost of Goods Sold calculation: Journal Entries: DATE CREDIT DEBIT ACCOUNT Focus Question 6 Pioneer Limited uses a perpetual inventory system. Inventory data for the year ended December 31, 2019, are as follows: Beginning inventory February 28 purchase 1st quarter sales July 31 purchase 2nd quarter sales October 31 purchase 30 units at $120 each 35 units at $125 each 60 units 45 units at $130 each 30 units 50 units at $135 each Required Determine the amounts to report for Cost of Goods Sold and Ending inventory using FIFO and the weighted-average cost method