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36. On February 1, 2018, Stealth Trucks sold a diesel rig to Kans 00, receiving a $50,000 down paynent and a 12-month, 10 maturity and

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36. On February 1, 2018, Stealth Trucks sold a diesel rig to Kans 00, receiving a $50,000 down paynent and a 12-month, 10 maturity and the 1U percent interest rate m 2018, Kansas Transports discounted the note without recoutrss blacePria i le reflected the market rate of interest at the time of sale. On August 1, at the First South Bank at 12 percent interest. of sal On Aerest. Required: Prepare all revenue and the discounting of the note (10 points). required journal entries (using proper format) at August I to recognize interest DATE PRI DEBIT CREDIT ACCOUNT 0SS on Notes feceinble Notes fecenable Taterest Bevenue 2s6, 2so S, 375 210,875

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