Ontario Resources, a natural energy supplier, borrowed $80.9 million cash on November 1, 2021, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement. Ontario Resources issued a 9-month, 12% promissory note with interest payable at maturity. Ontario Resources' fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Ontario Resources. 2.

Date                  Account Title                                   Debit                    Credit

Nov.1 2021         Cash                                         $80,900,000

                         Notes Payable                                                       $80,900,000

When the note is issued, Ontario resources gained $80.9 million in cash so the Cash account needs to be debited to reflect this.

The Notes Payable account will be credited for the same amount because credit balances like liabilities -  which is what a note is - are credited when they increase.

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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it should be