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urgent! need help ASAP On November 1, 2021. Quantum Technology, a geothermal energy supplier, borrowed $5 million cash to fund a geological survey. The loan

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On November 1, 2021. Quantum Technology, a geothermal energy supplier, borrowed $5 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement. Quantum issued a nine-month, 6% promissory note. Interest was payable at maturity. Quantum's fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Quantum Technology 2. & 3. Prepare the appropriate adjusting entry for the note by Quantum on December 31, 2021 and journal entry for the payment of the note at maturity. (For all requirements, if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Answer is not complete. No Date General Journal Credit Debit 5,000,000 November 01, 202 Cash Notes payable 5.000.000 50.000 December 31, 202 Interest expense Interest payable 50.000 July 31, 2022 5,000,000 Notes payable Interest payable 5.000.000

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