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

2016
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 million at the banks prime rate.
Feb.	1		Arranged a three-month bank loan of $5 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 $10 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).
2017
Sept.	1		Paid the commercial paper at maturity.

Required:

Prepare the appropriate journal entries through the maturity of each liability for 2016 and 2017. (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.)