Record opening of checking accounts at Second Commercial Bank and negotiated a short-term line of credit of up to $8,000,000 at the bank's prime rate (9.5% at the time). The company will pay no commitment fees. Note: Enter debits before credits. Journal entry worksheet 678 Record the borrowing of $5 million cash and issuance of five-month promissory note. Interest at the prime rate of 9% was payable at maturity. Management planned to issue 10 -year bonds in February to repay the note. Note: Enter debits before credits. Journal entry worksheet 5678 Record receipt of $2,000 of refundable deposits in December for reusable containers used to transport and store chemial-based products. Note: Enter debits before credits. Journal entry worksheet Record for the September-December period, sales on account totaled $4,880,000. The state sales tax rate is 3% and the local sales tax rate is 3%. Note: Enter debits before credits. Journal entry worksheet Recorded the adjusting entry for accrued interest. Note: Enter debits before credits. Journal entry worksheet In March, paid the entire amount of the note on its March 1 due date, using proceeds from a February issuance of $4.0 million of 10 -year bonds at face value, along with other available cash. Record the issuance of the bonds. Note: Enter debits before credits. Journal entry worksheet \begin{tabular}{ll|l} 1 & 2 \\ \hline \end{tabular} In March, paid the entire amount of the note on its March 1 due date, using proceeds from a February issuance of $4.0 million of 10 -year bonds at face value, along with other available cash. Record the payment of the notes payable. Note: Enter debits before credits. Journal entry worksheet Record half of the storage containers covered by refundable deposits were returned in March. The remaining containers are expected to be returned during the next six months. Note: Enter debits before credits. Camden Biotechnology began operations in September 2024 . The following selected transactions relate to liabilities of the company for September 2024 through March 2025. Camden's fiscal year ends on December 31 . Its financial statements are issued in April. 2024 a. On September 5, opened checking accounts at Second Commercial Bank and negotiated a short-term line of credit of up to $8,000,000 at the bank's prime rate ( 9.5% at the time). The company will pay no commitment fees. b. On October 1, borrowed $5 million cash from Second Commercial Bank under the line of credit and issued a five-month promissory note. Interest at the prime rate of 9% was payable at maturity. Management plantsed to issue 10 -year bonds in February to repay the note. c. Received $2,000 of refundable deposits in December for reusable containers used to transport and store chemical-based products. d. For the September-December period, sales on account totaled $4,880,000. The state sales tax rate is 3% and the local sales tax rate is 3%. (This is a summary journal entry for the many individual sales transactions for the period) e. Recorded the adjusting entry for accrued interest. 2025 f. In March, paid the entire amount of the note on its March 1 due date, using proceeds from a February issuance of $4.0 million of 10 -year bonds at face value, along with other avaliable cash. 9. The storage containers covered by refundable deposits are expected to be returned during the first nine months of the year. Half of the containers were returned in March 2025