Journalize the following transactions for Joye Company:

201X

June 18 Joye Company discounted its own $55,000, 60-day note at Newton Bank at 14%.

Aug. 17 Paid the amount due on the note of June 18. (Be sure to record interest expense from Discount on Notes Payable.)

Nov. 2 Joye Company discounted its own $20,000, 150-day note at Newton Bank at 15%.

Dec. 31 Record the adjusting entry for interest expense.