Business, 17.04.2020 20:39 juniorgutierrez997

On August 1, 2021, 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. FirstBanc Corp.’s year-end is December 31.
Required:
Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies.

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On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.2 million cash...

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