Exercise 8-3A Record notes payable (L08-2) On August 1, 2021. Trico Technologies, an aeronautic electronics company, borrows $19.7 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 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 (10.5 should be entered as 5,000,000).) No 1 General Journal Credit Date August 01, 2021 Notes Receivable Cash Debit 19,700.000 33 19,700.000 2 December 31, 202, Interest Receivable Interest Revenue 738.750 738,750 January 31, 2022 Cash Interest Revenue Interest Receivable Notes Receivable 20.586,500 3 OOOO 1472750 738.750 19,700,000 Problem 8-9A Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: Wayne Enterprises (5 millions) Current assets Cash and cash equivalents Current Investments Net receivables Inventory Other current assets Total current sets Current liabilities Current debt Accounts payable Other current liabilities Total current abilities ACHE Corporation $ 533 5 611 10,548 1/27 $12,970 $ 325 530 246 9.009 295 $10,405 $9,021 1.647 2,164 312.032 $6.203 1,101 2,415 $9.804 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio Totalment assets Total current abilities ACME Corporation $12.970 1.078 12.032 $ $ Wayne Enterprises 10.405 1333 7.06 1.b. Which company has the better ratio? ACME Corporation Wayne Enterprises 2-a. Calculate the acid tost quich) ratio for ACME Corporation and Wayne Enterprises (Enter your answers in milions. For example, $5,500,000 should be entered as 5.5) ACME Corporation Wayne Enterprises Acht Test Ratio Ca Torrent 704