On August Trico Technologies, an aeronautic electronics company, borrows $ million cash to expand operations. The loan is made by FirstBanc Corporation under a shortterm line of credit arrangement. Trico signs a sixmonth, promissory note. Interest is payable at maturity. FirstBanc Corporation's yearend is December
Required:
to Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation. If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field. Enter your answers in dollars, not millions ie million should be entered as
Journal entry worksheet
Record the receipt of cash by FirstBanc Corporation at maturity.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJanuary
