Grossman Products began operations in $2023.$ The following selected transactions occurred from September $2023$ through December $2023.$ Grossman's fiscal year ends on December $31.$

$2023$:

$($a$.)$ On September $5,$ Grossman opened a checking account and negotiated a short$-$term line of credit of up to $$10,000,000$ at $10\%$ interest. The company is not required to pay any commitment fees.

$($b$.)$ On November $1,$ Grossman borrowed $$6,200,000$ cash and issued a $6-$month promissory note with $9\%$ interest payable at maturity.

$($c$.)$ Grossman received $$4,000$ of refundable deposits in December for reusable containers.

$($d$.)$ For the September through December period, sales totaled $$4,850,000.$ The state sales tax rate is $6\mathrm{.}3\%$ and $85\%$ of sales are subject to sales tax.

$($e$.)$ Grossman recorded accrued interest.

Required:

$($a$)$ Prepare the appropriate journal entries for the $2023$ transactions.

$($b$)$ Prepare the liability section of the balance sheet at December $31,2023,$ based on the data supplied