10. On July 1, 2023, Regal Corporation obtained a $25,000 note receivable from a cutomer. The note along with interest at 9% is due on December 31, 2023. On August 30, 2023, Regal discounted the note at First City Bank. The bank's discount rate is 12%. Prepare the journal entries required on August 30, 2023 to accrue interest and to record the discounting for Regal (round all calculations to two decimal points).