2 On May 16, 2019, Safeway Company received a 90-day. 10 percent, $7600 interest-bearing note from Black Company in settlement of Black's past-due account. On June 30, Safeway discounted this note at Fargo Bank and Trust. The bank charged a discount rate of 15 percent. On August 15, Safeway received a notice that Black had paid the note and the interest on the due date. Required: Prepare the entries in general journal form to record these transactions. eBook Analyze: If the company prepared a balance sheet on July 31, 2019, how should Notes Receivable-Discounted be presented on the statement? Print Complete this question by entering your answers in the tabs below General Analyze ournal If the company prepared a balance sheet on July 31, 2019, how should Notes ReceivableDiscounted be presented on the statement? Safeway Company Balance Sheet July 31, 2019 Accounts receivable