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On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $21 million cash to expand operations. The loan is made by FirstBanc Corp. under

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On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $21 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 9% promissory note. Interest is payable at maturity. FirstBanc Corp's year-end is December 31 Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corp. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (.e. 5 should be entered as 5,000,000).) Answer is not complete. No General Journal Debit Credit 1 Date August 01, 2021 Cash Notes Payable % 21,000,000 3 21,000,000 2 December 31, 202 interest Expense Interest Payable 787,500 3 787,500 3 January 31, 2022 Notes Payable Interest Expense Interest Payable Cash @@@@ 21,000,000 157 500 787.500 21.945,000

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