The following selected transactions relate to liabilities of Smokey Mountain Adventures. Smokey Mountains 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 $$10$ million at the bank's prime rate.February $1$Arrange a three$-$month bank loan of $$3\mathrm{.}7$ million with First Bank under the line of credit agreement. Interest at the prime rate of $8\%$ is payable at maturity.May $1$Pay the $8\%$ 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 $($i$.$e$.5$ million should be entered as $5,000,000).)$