Question: This is how the question appears in the boo. Please help! Thank you EX 11-3 Entries for discounting notes payable OBJ. 1 Ramsey Company issues

EX 11-3 Entries for discounting notes payable OBJ. 1 Ramsey Company issues

This is how the question appears in the boo. Please help! Thank you

an $800,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts

EX 11-3 Entries for discounting notes payable OBJ. 1 Ramsey Company issues an $800,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 70/0. a. Journalize Ramsey's entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. b. Journalize Buckner's entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity.

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