Exercise 13-3 (Algo) Short-term notes [LO13-2] The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends on December 31. 2021 Jan. 13 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $26.0 million at the banks prime rate. Feb. 1 Arranged a three-month bank loan of $9.0 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 7% was payable at maturity. May 1 Paid the 7% note at maturity. Dec. 1 Supported by the credit line, issued $13.0 million of commercial paper on a nine-month note. Interest was discounted at issuance at a 6% discount rate. 31 Recorded any necessary adjusting entry(s). 2022 Sept. 1 Paid the commercial paper at maturity. Required: Prepare the appropriate journal entries through the maturity of each liability.