recelvable. Nestor Matthews is one of Many businesses borrow money during periods of increased business activity to finance inventory and accounts America's most prestigious retailers. Each Christmas season, Nestor Matthews builds up its inventory to meet the needs of Christmas shoppers. A large that on November 1 of this year, Nestor Matthews borrowed $4.8 million cash from Bank of Georgia to meet short-term obligations. Nestor Matthews signed an interest-bearing note and promised to repay the $4.8 million in six months. The annual interest rate was 7%. All interest will accrue and be paid when the note is due in six months. Nestor Matthews accounting period ends December 31 Ab Required: 1. Prepare the journal entry to record the note on November 1. (If no entry Is required for a transactionlevent, select "No Journal entry required" in the first account fleld. Enter your answers In whole dollars not in millions (l.e., 1,000,000 not 1.0).) View transaction list Journal entry worksheet Record the note on November 1. AM204 Note: Enter debits before credits. Date General Journal Debit Credit November 01