21 22 5 On October 1, Johnson signed a $40,000, 120-day, 6% note payable to borrow funds to cover the purchase of new equipment. REQUIREMENT (Use the Solution Packet and Show All Work): A. Prepare Johnson's journal entry to record the transaction on October 1st. B. Prepare Johnson's journal entry to record any necessary adjustments on December 31st. C. Prepare Johnson's journal entry to record the payment of the note payable on Feb 1st of the following year