Question: Chapter 8 Homework Submitted 10.31/15 Total points wa Exercise 8-3A Record notes payable (L08-2) On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows
Chapter 8 Homework Submitted 10.31/15 Total points wa Exercise 8-3A Record notes payable (L08-2) On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.3 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, 9% promissory note. Interest is payable at maturity. Trico's year-end is December 31 0.81 points awarded Scored 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)) No Date General Journal Credit Debit 19,300,000 August 01, 2021 Cash Notes Payable ! 19,300,000 868 500 December 31, 202. Interest Expense Interest Payable 888.500 January 31, 2022 Notes Payable Interest Payable Interest Expense Cash 19.300.000 723.750 144.750 20.313 250R
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