Check O Required information (The foowing Information applies to the questions displayed below! Precision Castparts, manufacture of processed engine parts in the automotive and airline Industries, borrows $395 million cash on October 1, 2021. to provide working capital for anticipated expansion Precision signs a one-year 8% promissory note to Midwest Bank under a prearranged short-term bine of credit. Interest on the note is payable at maturity Each firm has a December 31 year end, 2. Record the adjustments on December 1 2021 for (a) Precision Castparts and (b) Midwest 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, 55.5 million should be entered as 5,500,000.) View reaction et Journal entry worksheet Record the adjusting entry for interest for Precision Castparts. Grid December 31