Near the end of 2016, The Cheesecake Factory entered into a new long-term credit agreement with a financial institution (the "New Facility"). The purpose of the new credit facility was to finance the acquisition of some other companies that expand the Cheesecake Factory brand. This credit agreement has been extended two times since then and now extends through July 30, 2024. It provides for loan commitments totaling up to $400 million. i (Click the icon to view loan status and agreements.) (Click the icon to view borrowing information.) As previously stated, near the end of 2016, The Cheesecake Factory entered into a new loan agreement ("New Facility") with a financial institution. The New Facility provides for loan commitments totaling up to $400 million. During 2016, the company did not draw any loans from creditors during this agreement. Would The Cheesecake Factory's have recorded any transactions in its general ledger during 2016 related to the New Facility? (Note: The Cheesecake Factory did borrow funds.

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No The Cheesecake Factory would not have recorded any tran... View the full answer