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Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe), borrows...

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Accounting

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Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe), borrows $19 million cash on November 1, 2021. Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end. Problem 8-2B Part 1 Required: 1. Prepare the journal entries on November 1, 2021, to record the issuance of the note. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,000.) Journal entry worksheet Record the acceptance of the note by Stillwater National Bank. Note: Enter debits before credits. General Journal Debit Credit Date November 01, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the issuance of the note to Eskimo Joe's. Note: Enter debits before credits. General Journal Debit Credit Date November 01, 2021 Record entry Clear entry View general journal

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