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1. Record the acceptance of the note. 2. Record rhe adjusting entry for interest. 3.Record the receipt of cash by FirstBanc Corporation at maturity. On
1. Record the acceptance of the note. 2. Record rhe adjusting entry for interest. 3.Record the receipt of cash by FirstBanc Corporation at maturity. On August 1, 2024. Trico Technologies, an aeronautic electronics company, borrows $204 million cash to expand operations. The loan is made by FirstBanc Corporation under a short-term line of credit arrangement. Trico signs a six-month. 9% promissory note. Interest is payable at maturity. FirstBanc Corporation's year-end is December 31 Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation. (If no entry is required for a particular tronsaction/event, select "No Journol Entry Required" in the first account field. Enter your answers in dollars, not millions (i.e. 5.5 million should be entered os 5,500,000).) Journal entry worksheet
1. Record the acceptance of the note.
2. Record rhe adjusting entry for interest.
3.Record the receipt of cash by FirstBanc Corporation at maturity.
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