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January 1 3 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line
January 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 $ million at the banks prime rate. February Arranged a threemonth bank loan of $ million with Parish Bank under the line of credit agreement. Interest at the prime rate of was payable at maturity. May Paid the note at maturity. December Supported by the credit line, issued $ million of commercial paper on a ninemonth note. Interest was discounted at issuance at a discount rate. December Record necessary adjusting entry to accrue interest. September Record interest on commercial paper in September Record the repayment of commercial paper at maturity.
January 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 $ million at the banks prime rate.
February Arranged a threemonth bank loan of $ million with Parish Bank under the line of credit agreement. Interest at the prime rate of was payable at maturity.
May Paid the note at maturity.
December Supported by the credit line, issued $ million of commercial paper on a ninemonth note. Interest was discounted at issuance at a discount rate.
December Record necessary adjusting entry to accrue interest.
September Record interest on commercial paper in
September Record the repayment of commercial paper at maturity.
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