1 Record a revolving credit agreement negotiated with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $20 million at the bank's prime rate. 2 3 4 Record a three-month bank loan of $5 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 10% was payable at maturity. Record the payment of the 10% note at maturity. Record the issuance of $10 million of commercial paper on a nine-month note, supported by the credit line. Interest was discounted at issuance at a 9% discount rate.