Question: Blane Inc. signed a $1,000, 12%, 60-day note payable with the bank. The note was issued at a discount. The interest is $20. Blane received

Blane Inc. signed a $1,000, 12%, 60-day note payable with the bank. The note was issued at a discount. The interest is $20. Blane received $980 from the bank. Blane would record the receipt of proceeds with a (debit or credit) to Notes Payable - Bank for $ . (Do not input a comma or cents.)

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