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! 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 $39.7 million cash on October 1, 2021, to provide working capital for anticipated expansion. Precision signs a one-year, 9% 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 as 5,500,000.) View transaction list Journal entry worksheet million should be entered as 5,500,000.) View transaction list Journal entry worksheet N > Record the issuance of the note by Precision Castparts. Note: Enter debits before credits. General Journal Debit Credit Date October 01, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet 1 2 2 > Record the acceptance of the note by Midwest Bank. Note: Enter debits before credits. General Journal Debit Credit Date October 01, 2021 Record entry Clear entry View general Journal

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