On August $1,2024,$ Trico Technologies, an aeronautic electronics company, borrows $$19\mathrm{.}3$ million cash to expand operations. The loan is made by FirstBanc Corporation under a short$-$term line of credit arrangement. Trico signs a six$-$month, $9\%$ promissory note. Interest is payable at maturity. Trico$$s year$-$end is December $31.$

Required:

$1.$ to $3.$ 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 millions $($i$.$e$.5\mathrm{.}5$ million should be entered as $5,500,000).)$

Answer rating: 100% (QA)

Answer here are entries recorded in the Journal Entry Date Account Debit Credit Explanation August 1 2024 Cash 19300000 Trico borrows 193 million cash ... View the full answer