how do you find the discount?

Your answer is partially correct. Prepare the entries that would be recorded by Blossom Inc. for the sale on December 31, 2020. (Round answers to decimal places, eg. 5,275. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually) Account Titles and Explanation Debit Credit Cash 48,000 Notes Recevable 96,000 Discount on Notes Receivable Service Revenue 124.077 e Textbook and Media List of Accounts On December 31, 2020, Blossom Inc rendered services to Beghun Corporation at an agreed price of $ 124,077, accepting $ 48,000 down and agreeing to accept the balance in four equal installments of $ 24,000 receivable each December 31. An assumed interest rate of 10% is imputed. (a1) Your answer is correct Prepare an amortization schedule. Assume that the effective interest method is used for amortization purposes. (Round answers to decimal places, es 5275) December 31, 2020 Schedule of Note Discount Amortization Cash Received Interest Revenue Decrease Carrying Amount Carrying Amount of Note 0 0 $ 76077 600 760 6192 59035 R B Prepare an amortization schedule. Assume that the effective interest method is used for amortization purposes. Round answers to decimal places, es, 5,275 December 31, 2020 Schedule of Note Discount Amortization Interest Decrease Revenue Carrying Amount Cash Recelved Carrying Amount of Note 0 0 O 76077 24,000 7608 16,392 59685 24000 5968 18,032 43650 24,000 4165 19.835 21810 24,000 2182 21818 0 e Textbook and Media Ust of Accounts Attempts: 2 of 3 used N