TB EX Qu. 8-159 The following selected transactions relate to liabilities of Food Emporium... The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on December 31 January 26 Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $12.40 million at the bank's prime rate. March 1 Arranged a six-month bank loan of $480,000 with city Bank under the line of credit agreement. Interest at the prime rate of 8: is payable at maturity. September 1 Paid the 8 note at maturity. Record the appropriate entries, if any, on January 26, March 1, and September 1. (Enter your answers in dollars, not in millions. Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction lit Journal entry worksheet 2 3 1 Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $12.40 million at the bank's prime rate. Record appropriate entry if necessary. Note: Enter detits before creditu, General Journal Dobit Credit Dato January 26 Record entry Clear entry View general Journal available under the lane OL nk 8 prime rate. March 1 Arranged a six-month bank loan of $480,000 with city Bank under the line of cre the prime rate of Bo is payable at maturity. September 1 Paid the 88 note at maturity. Record the appropriate entries, if any, on January 26, March 1, and September 1. (Enter your answers in not round intermediate calculations. If no entry is required for a particular transaction/event, select " the first account field.) View transaction list Journal entry worksheet 1 2 3 > Arranged a six-month bank loan of $480,000 with City Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity. Record appropriate entry if necessary. Note: Enter debits before credits Goneral Journal Dobit Credit Date March 01 Record entry Clear entry View general Journal the first account field.) View transaction list Journal entry worksheet Record payment of the 8% note at maturity. Note: Enter debits before credits. General Journal Debit Credit Date September 01 Record entry Clear entry View general journal