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The following selected transactions relate to liabilities of Rocky Mountain Adventures. Rocky Mountain's fiscal year ends on December 31 January 13 Negotiate a revolving credit

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The following selected transactions relate to liabilities of Rocky Mountain Adventures. Rocky Mountain's fiscal year ends on December 31 January 13 Negotiate a revolving credit agreement with First Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10 million at the banks prine rate. February 1 Arrange a three-month bank loan of $5 million with First Bank under the line of credit agreement. Interest at the prine rate of is payable at maturity. May 1 Pay the note at maturity. Required: Record the appropriate entries, if any, on January 13. February 1, and May 1 (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (l.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the payment of the note at maturity. om dette edits Credit General Journal Notis Payable Deb - 5.000.000 May 01

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