Question: 3 PART QUESTION. PLEASE ANSWER ALL On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $20.6 million cash to expand operations. The loan
3 PART QUESTION. PLEASE ANSWER ALL




On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $20.6 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 6% promissory note. Interest is payable at maturity. Trico's year-end is December 31. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies. (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 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the issuance of note. Note: Enter debits before credits. Date General Journal Debit Credit August 01, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the repayment of the note at maturity. Note: Enter debits before credits. Date General Journal Debit Credit January 31, 2022 Record entry Clear entry View general journal Journal entry worksheet
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