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

$2024$

available under the line of credit is $$30\mathrm{.}0$ million at the bank's prime rate.

prime rate of $10\%$ was payable at maturity.

May $1$ Paid the $10\%$ note at maturity.

issuance at a $9\%$ 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.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

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\mathrm{.}0$ million at the bank's prime rate.

Note: Enter debits before credits.