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On November 1, 2021. Quantum Technology, a geothermal energy supplier, borrowed $25 million cash to fund a geological survey. The loan was made by Nevada

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On November 1, 2021. Quantum Technology, a geothermal energy supplier, borrowed $25 million cash to fund a geological survey. The loan was made by Nevada Bancorp under a noncommitted short-term line of credit arrangement Quantum issued a nine-month. 12% promissory note. Interest was payable at maturity, Quantum's fiscal period is the calendar year." Required: 1. Prepare the journal entry for the issuance of the note by Quantum Technology 2.& 3. Prepare the appropriate adjusting entry for the note by Quantum on December 31, 2021 and journal entry for the payment of (For all requirements, if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 3 1 Record the issuance of the note by Quantum Technology, Note: Enter debits before credits General Journal Dobit Crodit Date November 01 2021 Journal entry worksheet 1 2 3 Record the adjusting entry for the note by Quantum on December 31, 2021. Note: Enter debits before edits. General Journal Debit Credit Dato December 31 2021 nt rences View general Journal Record entry Clear entry View transaction list Journal entry worksheet

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