Check my work ! Required information [The following information applies to the questions displayed below.) On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $240,000. The interest rate charged by the bank was 6.75%. The bank made the loan on a discount basis. 1 Required: a-1. Calculate the loan proceeds made available to Powell. Loan proceeds es CO 5 of Next unuWOOK Help Sad 2 Port Zots Required information (The following information applies to the questions displayed below) On April 15, 2019. Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $240,000. The interest rate charged by the bank was 6.75%. The bank made the loan on a discount basis 0.45 points 8 02:32:02 3-2. Use the horizontal model to show the effect of signing the note and the receipt of the cash proceeds on April 15, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) B Balance Sheet Liabilities Assets Stockholders' Equity Net Income . Hint Pyn Seved Help Required information [The following information applies to the questions displayed below) On April 15, 2019. Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $240,000. The interest rate charged by the bank was 6.75%. The bank made the loan on a discount basis. --3. Record the journal entry to show the effect of signing the note and the receipt of the cash proceeds on April 15, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet