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14A-3. Journalize the following transactions for Jones Company: 201X June 18 Jones discounted its own $46,000, 180-day note at International Bank at 10%. Sept. 16
14A-3. Journalize the following transactions for Jones Company: 201X June 18 Jones discounted its own $46,000, 180-day note at International Bank at 10%. Sept. 16 Paid the amount due on the note of June 18. (Be sure to record interest
expense from Discount on Notes Payable.) Nov. 2 Jones discounted its own $40,000, 120-day note at International Bank at 9%. Dec. 31 Record the adjusting entry for interest expense.
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