Journal entry worksheet

$1$

Record the adjusting entry for interest.

Note: Enter debits before credits. Journal entry worksheet

Record the receipt of cash by FirstBanc Corporation at maturity.

Note: Enter debits before credits.On August $1,2024,$ Trico Technologies, an aeronautic electronics company, borrows $$20\mathrm{.}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:

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$.5\mathrm{.}5$ million should be entered as $5,500,000).)$

Journal entry worksheet

Record the acceptance of the note.

Note: Enter debits before credits.