Question: Exercise 8-3A Record notes payable (LO8-2) On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $20.3 million cash to expand operations. The loan

Exercise 8-3A Record notes payable (LO8-2) On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $20.3 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, 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 (.e. 5 should be entered as 5,000,000).) X Answer is not complete. No Date General Journal Credit Debit 20,300,000 1 August 01, 2021 Notes Receivable Cash 20,300,000 2 x 507,500 December 31, 202 Interest Receivable Interest Revenue X 507,500 3 X 20,868,400 X x January 31, 2022 Cash Interest Revenue Interest Receivable Notes Receivable X X 60,900 X 507,500 X 20,300,000 X
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