Required Information [The following information applies to the questions displayed below] Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.7 million cash on October 1, 2021, 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 firm has a December 31 year-end. 2. Record the adjustments on December 31, 2021, for (a) Precision Castparts and (b) Midwest Bank (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,000.) View transaction list Journal entry worksheet 2 Record the adjusting entry for interest for Precision Castparts. > Note Ente debds before redes Date December 31, 2021 General Journal Debit Credit