Singer Company has a line of credit with United Bank. Singer can borrow up to $342,500 at any time over the course of the Year Calendar year. The following table shows the prime rate expressed as an annual percentage along with the amounts borrowed and repaid during the first three months of Year 1 Singer agreed to pay interest at an annual rate equal to 200 percent above the bank's prime rate. Funds are borrowed or repaid on the first day of each month. Interest is payable in cash on the last day of the month. The Interest rate is applied to the outstanding monthly balance. For example, Singer pays 6.25 percent (425 percent. 2.00 percent annual Interest on $75,600 for the month of February Priate for Mount Borrowed or (Repaid $75.600 February 4.250 (20,000) Required Provide all journal entries pertaining to Singer's line of credit for the first three months of Year 1 (Round your final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the cash borrowed. Note: The debts before credits General Journal Deo Credit &