The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on December 31.

January 26 Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10.60 million at the bank's prime rate.

March 1 Arranged a six-month bank loan of $350,000 with City Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity.

September 1 Paid the 8% note at maturity.

Record the appropriate entries, if any, on January 26, March 1, and September 1.