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Help Save Ontario Resources, a natural energy supplier, borrowed $80.1 million cash on November 1, 2021, to fund a geological survey. The loan was made

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Help Save Ontario Resources, a natural energy supplier, borrowed $80.1 million cash on November 1, 2021, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement. Ontario Resources issued a 12-month, 8% promissory note with interest payable at maturity, Ontario Resources fiscal period is the calendar year Required: 1. Prepare the journal entry for the issuance of the note by Ontario Resources 2. & 3. Prepare the appropriate adjusting entry for the note by Ontario Resources on December 31, 2021 and journal entry for the payment of the note at maturity. Record the issuance of the note by Ontario Resources. Note: Enter debits before credits General Journal Debit Credit 11/01/2021 Record entry Journal entry worksneer Record the adjusting entry for the note by Ontario Resources on December 31, 2021. Note: Enter debits before credits General Journal Date 12/31/2021 Debit Credit Record entry Clear entry View general journal Record the the payment of the note at maturity. Note: Enter debits before credits. General Journal Debit Credit 11/01/2022 Record entry Clear entry View general journal

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