Use your answers to Exercise 9-13 to journalize Suncare Corporation's transactions as follows (round to the nearest

Question:

Use your answers to Exercise 9-13 to journalize Suncare Corporation's transactions as follows (round to the nearest dollar):
May 31 Sold a telecommunications system, receiving a 9-month, 10 percent, $200,000 note from the city of Edson, Alberta. Suncare Corporation's cost of the system was $131,250.
Jun. 30 Received cash for interest revenue for one month.
30 Discounted the note to HSBC at a of 11 percent.
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...