On October 1, Eder Fabrication borrowed $70 million and issued a nine-month promissory note. Interest was discounted at issuance at a 6% discount rate. Prepare the Journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. Of 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 View journal entry worksheet No General Journal Debit Credit Event 1 1 Cash Discount on notes payable Noles payable 2 2 Interest expense Discount on notes payable