- The following selected transactions relate to liabilities of soultem comunnications lnc. for parting of 2010. Soultien fiscal year ends on 31 st december 2010. 2010 July 1st - Arranged an uncomnitted line of credit witk city bank amounting to kshs. 25 million at the bark prime rate (11.5% in July). The cavpany will not pay no Committment fees for IAB arrangement. Aug 9lk - Received kshs. 30,000 refundable deposit foun a major custoners. Ect 7th - Recaived most of the mailing catainers covered las the refundable depsit and a letter stating that the customer will retain containes represented by kshs. 2,000 of the deposit and forfeit ithat amount. The cest of the forfeited container was Kans 1500. Nov. 1st - Bomawed Kshs. 7 million cash from first city bank under the line of credit arranged by July and Bsued a 9 mont promissory note. lnterest at the prime rate of 12% was payable at Maturity. Required: Prepare the appropriate joumal entries for these transactions. Recorded appropriate adjusting entries for liabilities deseribe above