Exercise 8-4 (Static) Record notes receivable (LO8-2)...
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Exercise 8-4 (Static) Record notes receivable (LO8-2) On August 1, 2024, Trico Technologies, an oeronautic electionics compary borrows $21 malkon cash to expand operations. The loan is made by FirstBanc Corporation undet a short-term line of credit arrangement. Tico signs a six-minth, 96, promilssory note. Interest is payable at maturity. FistBanc Corporation's year-end is December 31 Required: 1. to 3. Record the necensary entries in the Jounnal Entry Worksheet below for First Banc Coiporation. Of no entry is required for a porticulor transection/event, select "No Journal Entry Required" in the first acceunt field, Enter your answers in dollars, not. milions (i.e. 5.5 million should be entered as 5,500,000) ). Journal entry worksheet 3 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
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