Exercise 8-4 (Algo) Record notes receivable (LO8-2) On August 1, 2024, Trico Technologies, an aeronautic electronics...

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Exercise 8-4 (Algo) Record notes receivable (LO8-2) On August 1, 2024, Trico Technologies, an aeronautic electronics company, borrows $20.6 million cash to expand operations. The loan is made by FirstBanc Corporation under a short-term line of credit arrangement. Trico signs a six-month, 6% promissory note. Interest is payable at maturity. FirstBanc Corporation's year-end is December 31. Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation. (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 millions (i.e. 5.5 million should be entered as 5,500,000).) Answer is not complete. No 1 Date August 01, 2024 General Journal Notes Receivable Debit 20,600,000 Credit Cash 20,600,000 2 December 31, 202 Interest Receivable Interest Revenue 3 January 31, 2025 Cash Notes Receivable Interest Receivable Interest Revenue 772,500 772,500 x 20,600,000 Exercise 8-4 (Algo) Record notes receivable (LO8-2) On August 1, 2024, Trico Technologies, an aeronautic electronics company, borrows $20.6 million cash to expand operations. The loan is made by FirstBanc Corporation under a short-term line of credit arrangement. Trico signs a six-month, 6% promissory note. Interest is payable at maturity. FirstBanc Corporation's year-end is December 31. Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation. (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 millions (i.e. 5.5 million should be entered as 5,500,000).) Answer is not complete. No 1 Date August 01, 2024 General Journal Notes Receivable Debit 20,600,000 Credit Cash 20,600,000 2 December 31, 202 Interest Receivable Interest Revenue 3 January 31, 2025 Cash Notes Receivable Interest Receivable Interest Revenue 772,500 772,500 x 20,600,000