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i already did 1 and 2 parts. this is 3rd part please solve this correctly. thanks!! 5 Required information [The following information applies to the
i already did 1 and 2 parts. this is 3rd part please solve this correctly. thanks!!
5 Required information [The following information applies to the questions displayed below! Part 3 of 4 Doints Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.6 million cash on October 1, 2021, to provide working capital for anticipated expansion Precision signs a one year, 7% promissory note to Midwest 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 eBook 3. Prepare the journal entries on September 30, 2022 to record payment of the notes payable at maturity. (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, $5.5 million should be entered as 5,500,000.) Print View transaction list References Journal entry worksheet 1 2 Record the repayment of the note at maturity for Precision Castparts. Note: Enter debits before credita Debit Credit Date General Journal September 30, 2022 Interest Expense interest Payable Notes Payable Cash Random Contacto ME Step by Step Solution
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