The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends...
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The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends on December January Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $ million at the banks prime rate. February Arranged a threemonth bank loan of $ million with Parish Bank under the line of credit agreement. Interest at the prime rate of was payable at maturity. May Paid the note at maturity. December Supported by the credit line, issued $ million of commercial paper on a ninemonth note. Interest was discounted at issuance at a discount rate. December Recorded any necessary adjusting entrys September Paid the commercial paper at maturity.
The following selected transactions relate to liabilities of United Insulation Corporation. Uniteds fiscal year ends on December
January Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $ million at the banks prime rate.
February Arranged a threemonth bank loan of $ million with Parish Bank under the line of credit agreement. Interest at the prime rate of was payable at maturity.
May Paid the note at maturity.
December Supported by the credit line, issued $ million of commercial paper on a ninemonth note. Interest was discounted at issuance at a discount rate.
December Recorded any necessary adjusting entrys
September Paid the commercial paper at maturity.
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