Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.4 million cash on October 1, 2024, to provide working capital for anticipated expansion. Precision signs a one-year, 9% promissory note to Midwest Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each company has a December 31 year-end. Required: 1. Prepare the journal entries on October 1, 2024, to record (a) the notes payable for Precision Castparts and (b) the notes receivable for Midwest Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Precision Castparts and (b) Midwest Bank. 3. Prepare the journal entries on September 30, 2025, to record payment of (a) the notes payable for Precision Castparts and (b) the notes receivable for Midwest Bank. Journal entry worksheet < 1 2 Record the adjusting entry for interest for Precision Castparts. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the issuance of the note by Precision Castparts. Note: Enter debits before credits. Date October 01, 2024 General Journal Debit Credit Record entry Clear entry Journal entry worksheet Record the repayment of the note and payment of interest at maturity for Precision Castparts. Note: Enter debits before credits Date September 30, 2025 General Journal Debit Credit >