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On August 1 Year 1. Company A, an aeronautic electronics company, borrows $20.4 million cash to expand operations. The loan is made by Company B

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On August 1 Year 1. Company A, an aeronautic electronics company, borrows $20.4 million cash to expand operations. The loan is made by Company B under a short-term line of credit arrangement Company A signs a six-month, 9% promissory note. Interest is payable at maturity. Company A's year-end is December 31 Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below for Company A. (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 View journal entry worksheet No General Journal Credit Date August 01 Debit 20,400,000 1 Notes Receivable Cash 20,400,000 2 December 31 765,000 Interest Receivable Interest Revenue 765,000 3 January 31 21,165,000 Cash Notes Receivable Interest Receivable 20,400,000 765,000

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