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On August 1, 2021. Trico Technologles, an aeronautic electronics company, borrows $20,7 million cash to expand operations. The loan is made by FirstBanc Corp under
On August 1, 2021. Trico Technologles, an aeronautic electronics company, borrows $20,7 million cash to expand operations. The loan is made by FirstBanc Corp under a short-term line of credit arrangement. Trico signs a sbc-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).) View transaction list Journal entry worksheet Record the acceptance of note Note: Enter debits before credits Debit Date August 01, 2021 General Journal Notes Payable Credit
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