On November 1, Pacific Adventures borrows $2.2 million and issues a six-month, 6% note payable. Interest is payable at maturity.

On November 1, Pacific Adventures borrows $2.2 million and issues a sbx-month, 6% note payable. Interest is payable at maturity. How would the issuance of the note on November 1 and the recognition of interest on December 31 affect the financial statements? Complete this question by entering your answers in the tabs below. How would the issuance of the note on November 1 affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign. Enter your answers in dollars, not in millions (i.e. $5,5 million should be entered as $5,500,000). On November 1, Pacific Adventures borrows $2.2 million and issues a six-month, 6% note payable. Interest is payable at maturity. How would the issuance of the note on November 1 and the recognition of interest on December 31 affect the financial statements? Complete this question by entering your answers in the tabs below. How would the recognition of Interest on December 31 affect the financial statements? Note: Amounts to be deducted should be indicated by a minus sign, Enter your answers in dollars, not in millons (1.e