The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends on December 31.

2021

Jan. 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 $20.0 million at the banks prime rate.

Feb. 1 Arranged a three-month bank loan of $3.2 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 10% was payable at maturity.

May 1 Paid the 10% note at maturity.

Dec. 1 Supported by the credit line, issued $13.6 million of commercial paper on a nine-month note. Interest was discounted at issuance at a 9% discount rate.

31 Recorded any necessary adjusting entry(s).

2022

Sept. 1 Paid the commercial paper at maturity.

Required:

Prepare the appropriate journal entries through the maturity of each liability. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.)