There are 6 journal entries but I did not take picture for all journal entries so it doesnt look much
Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe), borrows $21 million cash on November 1, 2024. Eskimo Joe's signs a six-month, 7\% promissory note to Stillwater National Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each company has a December 31 year-end. Required: 1. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Bank. 3. Prepare the joumal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes recelvable for Stillwater National Bank. Complete this question by entering your answers in the tabs below. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in doliars, not in millions. For example, $5.5 million should be entered as 5,500,000.) Complete this question by entering your answers in the tabs below. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's an Stillwater National Bank. (If no entry is required for a transaction/event, select "No Journal Entry Req Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,0 Journal entry worksheet Record the issuance of the note to Eskimo Joe's. Note: Enter debits before credits. Prepare the journal entries on November 1,2024 , to record (a) the notes payable for Eskimo Joe's a Stillwater National Bank. (If no entry is required for a transaction/event, select "No Journal Entry Re Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500 , Journal entry worksheet Record the acceptince of the note by Stillwater National Bank. Note: Enter debits before credits. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Ban calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the ff answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,000.) Journal entry worksheet Record the adjusting entry for interest for Eskimo Joe's. Note: Enter debits before credits. Prepare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes recelvable for Stillwater National 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. Show less a Journal entry worksheet 2 Record the repayment of the note at maturity for Eskimo Joe's
