The following selected transactions relate to liabilities of United Insulation Corporation. United's fiscal year ends on December 31. 2024 January 13 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $30.5 million at the bank's prime rate. February 1 Arranged a three-month bank loan of $7.8 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 12% was payable at maturity. May 1 Paid the 12% note at maturity. December 1 Supported by the credit line, issued $18.0 million of commercial paper on a nine-month note. Interest was discounted at issuance at a 11% discount rate. December 31 Recorded any necessary adjusting entry(s). 2025 September 1 Paid the commercial paper at maturity. Required: Prepare the appropriate journal entries through the maturity of each liability Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 13, 2024 No journal entry required 2 February 01, 2024 Cash Notes payable 7,800,000 7,800,000 3 May 01, 2024 Interest expense Notes payable 7,800,000 Cash Record a revolving credit agreement negotiated with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $30.5 million at the bank's prime rate. Record a three-month bank loan of $7.8 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 12% was payable at maturity. 3 Record the payment of the 12% note at maturity. Record the issuance of $18.0 million of commercial paper on a nine-month note, supported by the credit line. Interest was discounted at issuance at a 11% discount rate. = journal entry has been entered Note: Record entry Clear entry Credit View general journal > ces Record the payment of the 12% note at maturity. 4 Record the issuance of $18.0 million of commercial paper on a nine-month note, supported by the credit line. Interest was discounted at issuance at a 11% discount rate. Record necessary adjusting entry to accrue interest on December 31. Record interest on commercial paper in 2025. Record the repayment of commercial paper at maturity. Note: = journal entry has been entered Credit