Question: If in Exercise 8 the discount needs to be adjusted at year-end by $50, what would be the journalized adjusting entry? In Exercise 8, Max

If in Exercise 8 the discount needs to be adjusted at year-end by $50, what would be the journalized adjusting entry?
In Exercise 8,
Max Co. discounts its own note at a bank. This $58,000 note results in the bank deducting $390 interest in advance. Draw a transactional analysis box for this situation.

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