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Question 1: Make all of the necessary journal entries for the following independent transactions.
a) The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is not paid on the maturity. (Protest fee $6)
b) The company discounted its notes receivables for $5,000 and collected $4,400. This note is paid on maturity.
c) The company gave its $60,000 note receivable to a bank for collection. The note is not paid on maturity. Bank protested the note on behalf of the company and credited nottery public fee from company's account for $8.
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