Camden Biotechnology began operations in September $2024.$ The following selected transactions relate to liabilities of the company for September $2024$ through March $2025.$ Camden's fiscal year ends on December $31.$ Its financial statements are issued in April.

$2024$

a$.$ On September $5,$ opened checking accounts at Second Commercial Bank and negotiated a short$-$term line of credit of up to $$21,000,000$ at the bank's prime rate $(9\mathrm{.}5\%$ at the time$).$ The company will pay no commitment fees.

b$.$ On October $1,$ borrowed $$18$ million cash from Second Commercial Bank under the line of credit and issued a five$-$month promissory note. Interest at the prime rate of $9\%$ was payable at maturity. Management planned to issue $10-$year bonds in February to repay the note.

c$.$ Received $$2,800$ of refundable deposits in December for reusable containers used to transport and store chemical$-$based products.

d$.$ For the September$-$December period, sales on account totaled $$4,340,000.$ The state sales tax rate is $3\%$ and the local sales tax rate is $3\%.($This is a summary journal entry for the many individual sales transactions for the period.$)$

e$.$ Recorded the adjusting entry for accrued interest.

$2025$

f$.$ In March, paid the entire amount of the note on its March $1$ due date, using proceeds from a February issuance of $$17\mathrm{.}0$ million of $10-$year bonds at face value, along with other available cash.

g$.$ The storage containers covered by refundable deposits are expected to be returned during the first nine months of the year. Half of the containers were returned in March $2025.$

Required:

Prepare the appropriate journal entries for items a$-$g$.$

Prepare the current and long$-$term liability sections of the December $31,2024,$ balance sheet. Trade accounts payable on that date were $$271,000.$