Question: PLEASE SHOW SOLUTION AND PUT ANSWER IN SAME FORMAT AS IN THE IMAGE. THANKS! Selkirk Company obtained a $30,000 note receivable from a customer on

PLEASE SHOW SOLUTION AND PUT ANSWER IN SAME FORMAT AS IN THE IMAGE. THANKS!

Selkirk Company obtained a $30,000 note receivable from a customer on January 1, 2021. The note, along with Interest at 12%, is due on July 1, 2021. On February 28, 2020, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 14%. Required: Prepare the journal entries required on February 28, 2021, to accrue Interest and to record the discounting for Selkirk. Assume that the discounting is accounted for as a sale. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet

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