Discounting a Note Receivable Sonic Inc. received from a customer a $1,000,9% interest-bearing note that will mature in three months. Two months later, Sonic Inc. discounted the note to the bank to yield 12%. Provide the required journal entry made by the company at the time the note was discounted. Note: Round your answers to the nearest whole dollar Account Name Dr. Cash Discount on Note Receivable To record interest on note Cr. X 1.000 x 0 1.000 x Cash 0 Note Receivable Interest Revenue Accounts Receivable To record discounting of note X X 90 x 120 X 120 X O 0 OX 1,000 Check