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On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $19.2 million cash to...

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Accounting

On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $19.2 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, 8% promissory note. Interest is payable at maturity. Tricos year-end is December 31.

Required:

1., 2. & 3. Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies. (If no entry is required for a 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).)

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View transaction list Journal entry worksheet 2 3 Record the issuance of note. Note: Enter debits before credits. Date General Journal Debit Credit August 01, 2018 Record entry Clear entry View general journal

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