Whispering Winds Corporation, a publicly-traded company, agreed to loan money to another company. On July 1,2023 , the company received a five-year promissory note with a face value of $520,000, paying interest at a face rate of 5% on July 1 each year. The note was issued to yield an effective interest rate of 6%. Whispering Winds used the effective interest method of amortization for discounts or premiums, and the company's year-end is September 30. Prepare the journal entries to record the issue of the note on July 1, 2023. (Round answers to 0 decimal places, e.g. 58,971 . Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)