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O Required information [The following information applies to the questions displayed below) Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $406 million cash on October 1, 2021, to provide working capital for anticipated expansion. Precision signs a one-year, 8% promissory note to Midwest 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. Required: 1. Prepare the journal entries on October 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 os 5,500,000.) Required information Journal entry worksheet > 2. Record the issuance of the note by Precision Castparts. Note: Enter debits before credits. Debit Credit General Journal Date October 01, 2021 Record entry Clear entry View general journal Required information Journal entry worksheet 1 2 Record the adjusting entry for interest for Precision Castparts. Note: Enter debits before credits. General Journal Debit Credit Date December 31 2021 Record entry Clear entry View general Journal entry worksheet

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