The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends on December $31\mathrm{.}2024$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 $$25\mathrm{.}0$ million at the banks prime rate.February $1$Arranged a three$-$month bank loan of $$7\mathrm{.}4$ 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 $$12\mathrm{.}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$)\mathrm{.}2025$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. PrevQuestion $5$ of $6$ Total$5$ of $6$Visit question mapNext