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Problem $9-2($Algo$)$ Account for notes payable $($LO $9-2)$

Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $$40\mathrm{.}9$ million cash on October $1,2026,$ to provide working capital for anticipated expansion. Precision signs a $1-$year, $8\%$ promissory note to Midwest Bank under a prearranged short$-$term line of credit. Interest on the note is payable at maturity. Precision Castparts has a December $31$ year$-$end. How will the issuance of the note payable affect the financial statements of Precision Castparts on October $1,2026?$