On August 1, 2026, Trico Technologies, an aeronautic electronics company, borrows $40.2 million cash to expand operations. The loan is made by Trasco Corporation under a short-term line of credit arrangement. Trico signs a six-month, 7% promissory note. Interest is payable at maturity. Trasco Corporations year-end is December 31.

1. Record the Acceptance of the note.

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