On August 1, 2015, Trico Technologies, an aeronautic electronics company, borrows $21 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 9% promissory note. Interest is payable at maturity. FirstBanc Corp.’s year-end is December 31.

Required:
1. Record the acceptance of the note by FirstBanc Corp.
2. Record the appropriate adjustment for the note by FirstBanc Corp. on December 31, 2015.
3. Record the receipt of cash by FirstBanc Corp. at maturity.