Shastri Company has a line of credit with United Bank. Shastri can borrow up to \(\$ 150,000\) at any time over the course of the 2011 calendar year. The following table shows the prime rate expressed as an annual percentage along with the amounts borrowed and repaid during the first three months of 2011. Shastri agreed to pay interest at an annual rate equal to 2 percent above the bank's prime rate. Funds are borrowed or repaid on the first day of each month. Interest is payable in cash on the last day of the month. The interest rate is applied to the outstanding monthly balance. For example, Shastri pays 6.5 percent ( 4.5 percent +2 percent) annual interest on \(\$ 80,000\) for the month of February.

Required
Provide all journal entries pertaining to Shastri's line of credit for the first three months of 2011.