Ontario Resources, a natural energy supplier, borrowed $80.6 million cash on November 1, 2018, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement. Ontario Resources issued a 9-month, 12% promissory note with interest payable at maturity. Ontario Resources' fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Ontario Resources. 2. & 3. Prepare the appropriate adjusting entry for the note by Ontario Resources on December 31, 2018 and journal entry for the payment of the note at maturity.

• record the issuance of the note by Ontario Resources.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
November 01, 2018

• Record the adjusting entry for the note by Ontario Resources on December 31, 2018.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31, 2018

• record the payment of the note at maturity.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
August 01, 2019