Number 6 transaction list:

• Record opening of checking accounts at Second Commercial Bank and negotiated a short-term line of credit of up to $29,000,000 at the bank's prime rate (9.5% at the time). The company will pay no commitment fees.
• Record the borrowing of $26 million cash and issuance of 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.
• Record receipt of $3,900 of refundable deposits in December for reusable containers used to transport and store chemical-based products.
• Record for the September-December period, sales on account totaled $4,410,000. The state sales tax rate is 3% and the local sales tax rate is 3%.
• Recorded the adjusting entry for accrued interest.
• Record issuance of $25.0 million of 10-year bonds.
• Record the payment of the bank loan due on March 1.
• Record half of the storage containers covered by refundable deposits were returned in March. The remaining containers are expected to be returned during the next six months.

Camden Biotechnology began operations in September 2021. The following selected transactions relate to liabilities of the company for September 2021 through March 2022. Camden's scal year ends on December 31. Its nancial statements are issued in April. 2 2021 a. On September 5, opened checking accounts at Second Commercial Bank and negotiated a short-term line of credit of up to $29,000,000 at the bank's prime rate (9.5% at the time). The company will pay no commitment fees. El b. On October 1, borrowed $26 million cash from Second Commercial Bank under the line ofcredit and issued a ve-month * promissory note. Interest at the prime rate of 9% was payable at maturity. Management planned to issue 10-year bonds in February dam" to repay the note. _ c. Received $3,900 of refundable deposits in December for reusable containers used to transport and store chemical-based products. E! d. For the SeptemberDecember period, sales on account totaled $4,410,000. The state sales tax rate is 3% and the local sales tax Print rate is 3%. (This is a summaryjournal entry for the many individual sales transactions for the period.) e. Recorded the adjusting entry for accrued interest. E References 2022 f. In March, paid the entire amount of the note on its March 1 due date, using proceeds from a February issuance of $25.0 million of 10-year bonds at face value, along with other available cash. 9. The storage containers covered by refundable deposits are expected to be returned during the rst nine months of the year. Half of the containers were returned in March 2022. Required: 1. Prepare the appropriate journal entries for items a-g. 2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet. Trade accounts payable on that date were $324,000. References The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its scal year, included the following account balances. Manufacturing's 2021 nancial statements were issued on April 1, 2022. Accounts receivable $ 107,000 Accounts payable 36,300 15% notes, payable to bank 630,000 Mortgage note payable 1,460,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022. and pay interest at a rate of15%, payable at maturity. b. The mortgage note is due on March 1, 2022. Interest at 14% has been paid up to December 31 (assume 14% is a realistic rate). Manufacturing intended at December 31, 2021, to renance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing paid $477,500 in cash on the principal balance and renanced the remaining $982,500. c. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,850. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and apply the overpayments to those future purchases. d. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $36,600 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue. Required: 1. Prepare any necessary adjusting journal entries at December 31, 2021, pertaining to each item of other information lad). 2. Prepare the current and long-term liability sections ofthe December 31, 2021, balance sheet