On June $3,20$X$1,$ Georgla State Company recelved a $$10,400,45-$day, $10$ percent note from Sampson Byrd$,$ a customer whose account

was past due. The note was dlscounted on June $18,20$X$1$ at the Georgla State Bank and Trust. The bank charged a discount rate of $12$

percent.

Requlred:

Prepare the entry required by Georgla State when Sampson Byrd pald the discounted note on the maturity date.

Journal entry worksheet

$1$

Record entry for Sampson Byrd note discounted.

Note: Enter debits before credits.