Question: I need help with 1, and 3 Exercise 8-3A Record notes payable (LO8-2) On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.7

I need help with 1, and 3
Exercise 8-3A Record notes payable (LO8-2) 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 (i.e.5 should be entered as 5,000,000).) View transaction list Journal entry worksheet 1 2. . 3 > 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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
