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The following selected transactions relate to liabilities ofUnited Insulation Corporation. United’s fiscal year ends onDecember 31. 2018 Jan. 13 Negotiated a revolving credit agreementwith Parish Bank that can be renewed annually upon bank approval.The amount available under the line of credit is $29.5 million atthe bank’s prime rate. Feb. 1 Arranged a three-month bank loan of$7.2 million with Parish Bank under the line of credit agreement.Interest at the prime rate of 7% was payable at maturity. May 1Paid the 7% note at maturity. Dec. 1 Supported by the credit line,issued $16.9 million of commercial paper on a nine-month note.Interest was discounted at issuance at a 6% discount rate. 31Recorded any necessary adjusting entry(s).2019 Sept. 1 Paid thecommercial paper at maturity.