Use your answers to E9–17 to journalize Suncare Company’s transactions as follows (round to the nearest dollar):

Data From in E9-17

Suncare Company installs switching systems and receives its pay in the form of notes receivable. It installed a system for the city of Edson, Alberta, receiving a 9-month, 10 percent, $200,000 note receivable on May 31, 2023. To obtain cash quickly, Suncare discounted the note with HSBC Bank on June 30, 2023. The bank charged a discount rate of 11 percent.

Transcribed Image Text:

May 31 Jun. 30 Sold a telecommunications system, receiving a 9-month, 10 percent, $200,000 note from the city of Edson, Alberta. Suncare Company's cost of the system was $131,250. Discounted the note to HSBC Bank at a discount rate of 11 percent.