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Record the necessary entries in the journal entry

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Question - On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $19.9 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. Trico's year-end is December 31.

Required: Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies.

Reference no: EM131563154

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