Question: ty 8.1-3:30 class Help TURIU SELU UGLUSTE U N EBUI LUORT L orry MSHILGI ya SUIVELE JI January 13 Negotiate a revolving credit agreement with
ty 8.1-3:30 class Help TURIU SELU UGLUSTE U N EBUI LUORT L orry MSHILGI ya SUIVELE JI January 13 Negotiate a revolving credit agreement with Company B that can be renewed annually upon bank approval. The amount available under the line of credit is $10 million at the banks prime rate. February 1 Arrange a three-month bank loan of $4.1 million with Company B under the line of credit agreement. Interest at the prime rate of 88 is payable at maturity. May 1 Pay the 88 note at maturity. Required: Record the appropriate entries, if any, on January 13, February 1, and May 1. (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
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