Technically,Jerry received $500,000 for product he never shipped but otherwise, you're dead on.
Some might say that it does look incredibly suspicious that he also signed a $500,000 note days after he received the money for that sale - why, it almost looks as if he borrowed $500,000 and tried to disguise it as a sale of product.
Almost.
But of course that would be fraud, and we all know Jerry would NEVER do something like that, right?