On May 15, 2022. Powall incorporated obtained a six-month working capltal loan fiom its bark. The face ambunt of the note signod by the treasurer was $327,500. The Interest rato charged by the bank was 5.759, The bank made the loan on. a discount basis. Requiredi a-1. Calculate the loan proceeds made available to Powell. On May 15, 2022. Pomell incorporated obtained a six-month workang coptai loan from hs bank fhe tace arnount of vhe note digned by the treasurer was $327.500. The interest rate charged by the bank was 575 Th. The bank made the loan on a discount basis. a.3. Recard the joumal entry to show the effect of signing the note and the receipt of the cash proceeds on May 15,2022 Note: tf no entry is required for a transaction/event, select "No journal entry required" in the first account fleld, Journal entry worksheet Record the proceeds of a short-term note payable (discount basis). Enter debits before credits. On Moy t5. 2022 . Foweli incerporated obtained a stx-morith werking capitat loan trom its burvk. The tace armourn, of the note signed by the treasurer wes $327,500. The interest rate charged uy the bank was 5,75 s. The bork made the inen on a discount basia. On May 15, 2022 , Fowell Incorporated obtainerd a shemonth working capital lonn from its bank. The face arrount of the note sigined by thez treasurer was 5327.500. The interest rate charged by the bank. was 5.75%. The thank made the loon on at discount basis