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[The following information applies to the questions displayed below.) Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe). borrows $19.6
[The following information applies to the questions displayed below.) Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe). borrows $19.6 million cash on November 2018. Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National 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. Required: 1. Prepare the journal entries on November 1, 2018, to record the issuance of the note. (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 (i.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet Record the adjustment for interest for Eskimo Joe's. Note: Enter debits before credits, Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal 3. Prepare the journal entry on April 30, 2019, to record payment of the notes payable at maturity. (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 (i.e. 5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet N Record the repayment of the note at maturity for Eskimo Joe's. Note: Enter debits before credits. Date April 30, 2019 General Journal Debit Credit Record entry Clear entry View general journal
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