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Singer Company has a line of credit with United Bank. Singer can borrow up to $496,000 at any time over the course of the YeaJournal entry worksheet 1 2 3 4 5 6 Record the cash borrowed. Note: Enter debits before credits. General Journal Debit Credit

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Answer Credit Date Jan, 01 Debit $80,900 General Journal Cash Line of Credit Payable (To record the amount borrowed) $80,900Explanations Calculation of Interest Amount Borrowed Month (Repaid) Balance End of Month Interest Rate Interest Expense Janua

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