5. The following selected transactions relate to B Corporation. B's calendar year ends on December 3

Required:

Prepare the appropriate journal entries through the maturity of each liability. (Show the computing process and precise journal entries) (please show me the computing process when computing the figure, thank you.)

2021

Feb. 3 Negotiated a revolving credit agreement with Second Bank, which can be renewed annually upon bank approval. The amount available under the line of credit is $20,000,000 at the bank's prime rate.

April 1 Borrowed a 3-month bank loan of $14 million with Second Bank under the line of credit agreement. Interest at the prime rate of 9% was payable at maturity.

July 1 Paid the 9% loan at maturity.

Nov. 1 Supported by the credit agreement, issued $15 million of commercial paper on a 9-month note. Interest was discounted at issuance at a 4% discount rate.

Dec. 31 Recorded any necessary adjusting entry(s).

2022

Aug. 1 Paid the commercial paper at maturity.