0 Required Information Problem 8-2B Record notes payable and notes receivable (LO8-2) (The following Information apolles to the questions displayed below) Eskimo Joe's designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe, borrows $21 million cash on November 2021. Eskimo Joe's signs a six-month. 7% promissory note to Sullwater 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. 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 milion should be entered as 5,500,000.) View transactional View Journantry worksheet No General Journal Credit Date November 01, 2021 Cash Notes Payable Debit 2.000.000 21,000,000 2 November 01, 2021 Notes Receivable Cash 21.000.000 21.000.000 Problem 8-28 Part 2 2. Record the adjustments on December 31, 2021. for (a) Eskimo Joe's and (b) Stillwater National Bank. (Do not round Intermediate calculations. 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 transactions Journal entry worksheet + 2 Record the adjusting entry for interest for Eskimo Joe's. NG Debit Credit Date General Journal December 202 intre Expense Payable Record entry Caly View 2. Record the adjustments on December 31, 2021. for (a) Eskimo Joe's and (b) Stillwater National Bank. (Do notre calculations. If no entry is required for a transaction/event, select "No Journal entry required" in the first acco answers in dollars, not in millions. For example. $5.5 million should be entered as 5,500,000.) View transaction est Journal entry worksheet Record the repayment of the note at maturity for Eskimo Joe's. Natenter det beforedits General Journal Debit Credit Date April 30, 2022 Record entry Clear entry View our Problem 8-2B Part 3 3. Prepare the journal entry on April 30, 2022, to record payment of the notes payable at maturity (Do not round calculations. If no entry is required for a transaction/event, select No Journal Entry Required in the first accc answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,000.) View transaction Hot Journal entry worksheet