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File Home Insert Page Layout Formulas Data Review View Help X Calibri 0111AA - A...

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Accounting

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File Home Insert Page Layout Formulas Data Review View Help X Calibri 0111AA - A Ger Paste 29 Wrap Text + Merge & Center BID v $ Clipboard Font Alignment A19 v fa B C D E F G H 4 10. On July 1, 2018, Regal Corporation obtained a $15,000 note receivable from a cutomer. The 5 note along with interest at 8% is due on December 31, 2018. On August 30, 2018, Regal 6 discounted the note at First City Bank. The bank's discount rate is 10%. 7 3 Prepare the journal entries required on August 30, 2018 to accrue interest and to record the discounting for Regal (round all calculations to two decimal points)

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