Question

can you help with this journal entry? i think that i'm missing one

Eskimo Joe's, designer of the world's second best-selling T-shirt (just behind Hard Rock Cafe),, borrows $19.1 milion cash on November 1, 2021. 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. Problem 8-2B Part 3 3. Prepare the journal entry on April 30, 2022, to record payment of the notes payable at maturity. (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.) Answer is not complete. No Date General Journal Debit Credit April 30, 2022 Notes Payable Interest Expense 19,100,000 573,000 Interest Payable 286,500 Cash 19,959,500 2 April 30, 2022 Cash 19,959,500 Notes Receivable 19,100,000

Answer 1

3
April 30,2022	Notes Payable	19,100,000
	Interest Expense	573,000
	Interest Payable	286,500
	Cash		19,959,500
April 30,2022	Cash	19,959,500
	Interest Receivable		286,500
	Interest revenue		573,000
	Notes Receivable		19,100,000