What would the journal entry to record the discounting

Reference no: EM133608895

Question: Fishing Resort holds a $20,000, 10 percent, 120-day note receivable from Halibut. Prior to maturity, Fishing Resort discounts the note and sells it for proceeds of $21,000. What would the journal entry to record the discounting (selling) of the note include?

Reference no: EM133608895

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What would the journal entry to record the discounting : Fishing Resort discounts the note and sells it for proceeds of $21,000. What would the journal entry to record the discounting (selling) of the note include

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