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10. On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $20.4 million cash to expand operations. The loan is made by FirstBanc Corp.
10. On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $20.4 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. Tricos year-end is December 31 Required: 1., 2.&3. Record the necessary entries in the Jaumal Entry Worksheet below for Trico Technologies. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the issuance of note Nate: Enter debits berore credits. Date General Journal Debit Credit August 01, 2018 Cash 20,400,000 Notes payable 2,400,00D Record entry Clear entry View general journal
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