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Question 11( 10.00 points Exercise 13-1 Bank loan; accrued interest L013-2] On November 1, 2016, Quantum Technology, a geothermal energy supplier, borrowed $19 milion cash
Question 11( 10.00 points Exercise 13-1 Bank loan; accrued interest L013-2] On November 1, 2016, Quantum Technology, a geothermal energy supplier, borrowed $19 milion cash to fund a geological survey The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement Quantum issued a nine-month, 12% promissory note. I maturity. Quantum's fiscal period is the calendar year nterest was payable at Required: 1. Prepare the journal entry for the issuance of the note by Quantum Technology (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) iew transaction list Journal entry worksheet Record the issuance of the note by Quantum Technology. Note: Esiter debits before credts November 01, 2016 TOSHIBA esc 2 4 5 6
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