Entries for Discounted Note Payable A business issued a 90-day note for $36,000 to a creditor on account. The note was discounted at 9%. Assume a 360-day year. a. Journalize

Entries for Discounted Note Payable A business issued a 90-day note for $36,000 to a creditor on account. The note was discounted at 9%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. If necessary, round to one decimal place. a. Accounts Payable Notes Payable Interest Expense b. Journalize the entry to record the payment of the note at maturity.

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