$[$The following information applles to the questions displayed below.$]$

On May $15,2022,$ Powell Incorporated obtained a slx$-$month working capital loan from its bank.

The face amount of the note signed by the treasurer was $$495,800.$ The interest rate charged by

the bank was $9\mathrm{.}00\%.$ The bank made the loan on a discount basis.

Qa$-2.$ Use the horizontal model to show the effect of signing the note and the receipt of the cash proceeds on May $15,2022.$ Indicate the financial statement effect.

Note: Enter decreases with a minus sign to indicate a negative financial statement effect.