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On August 1, 2015, Trico Technologies, an aeronautic electronics company, borrows $20.7 million cash to...

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Accounting

On August 1, 2015, Trico Technologies, an aeronautic electronics company, borrows $20.7 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. FirstBanc Corp.?s year-end is December 31.

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