The following selected transactions relate to liabilities of Smokey Mountain Adventures. Smokey Mountain's fiscal year ends on December 31. January 13 Negotiate a revolving credit agreement with First Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10 million at the bank's prime rate. February 1 Arrange a three-month bank loan of $3.1 million with First Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity. May 1 Required: Pay the 8% note at maturity. Record the appropriate entries, if any, on January 13, February 1, and May 1. (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 (i.e. 5 million should be entered as 5,000,000).) View transaction list 1 Negotiate a revolving credit agreement with First Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10 million at the bank's prime rate. 2 Arrange a three-month bank loan of $3.1 million with First Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity. newed credit is 3 Pay the 8% note at maturity. Note : journal entry has been entered Record entry Credit Clear entry View general journal > Watermelon sells gift cards in $15, $25, and $50 increments. Assume Watermelon sells $20.9 million in iTunes gift cards in November, and customers redeem $13.9 million of the gift cards in December. Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. 3. What is the ending balance in the Deferred Revenue account? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Record the necessary entries in the Journal Entry Worksheet below. (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 (i.e. 5.5 million should be entered as 5,500,000).) View transaction list Journal entry worksheet 1 2 Record the cash sale of gift cards in November. Note: Enter debits before credits. Date November 30 General Journal Debit Credit Record entry Clear entry View general Journal < Req 1 and 2 Req 3 > > Watermelon sells gift cards in $15, $25, and $50 increments. Assume Watermelon sells $20.9 million in iTunes gift cards in November, and customers redeem $13.9 million of the gift cards in December. Required: 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. 3. What is the ending balance in the Deferred Revenue account? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 What is the ending balance in the Deferred Revenue account? (Enter your answer in dollars, not in millions. (i.e. 5.5 million should be entered as 5,500,000).) Ending balance < Req 1 and 2 Req 3 >