DE11-4 Accounting for a discounted note payable is illustrated for a $100.000 note at the top of page 427. 1. Why did Procter & Gamble (P&G) sign the note payable? What did P&G receive? 2. Suppose PG signed the note payable on November 16, 20X1. instead of November 25, 20X1. Make P&G's adjusting entry to accrue interest expense at December 31, 20X1. 3. Show how P&G would report the note payable on its balance sheet at December 31. 20X1 4. Journalize P&G's interest expense and payment of the note payable at maturity. Give the date.