On August 1, 2024, Trico Technologies, an aeronautic electronics company, borrows $20.2 million cash to expand operations. The loan is made by FirstBanc Corporation under a short-term line of credit arrangement. Trico signs a six-month, 6% promissory note. Interest is payable at maturity. FirstBanc Corporations year-end is December 31.

Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation.

1. Record the Acceptance of the note.

2. Record the adjusting entry for interest.

3. Record the receipt of cash by FirstBanc Corporation at maturity.