Answer:
Cash Dr $120,000
  To Note payable $120,000
(Being the issued of note payable is recorded)
Explanation:
The journal entry is shown below:
On April 1
Cash Dr $120,000
  To Note payable $120,000
(Being the issued of note payable is recorded)
For recording this entry we debited the cash as it increased the cash balance and at the same time it also increased the liabilities so liabilities is also increased so that the issuance of the note payable could be recorded
