3. Eskimo Joes, designer of the worlds second best-selling T-shirt (just behind Hard Rock Cafe), borrows $20.1 million cash on November 1, 2021. Eskimo Joes signs a six-month, 7% promissory note to Stillwater 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.

Prepare the following journal entries:

a. Prepare the journal entries on November 1, 2021, to record the issuance of the note to Eskimo Joe's and record the acceptance of the note by Stillwater National Bank

b. Record the adjusting journal entries for interest on December 31, 2021, for Eskimo Joe's and Stillwater National Bank

c. Prepare the journal entry on April 30, 2022, to record payment of the notes payable at maturity for Eskimo Joe's, and record the receipt of cash at maturity for Stillwater National Bank.

(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.)