A company accepted a trade note from AB Enterprises, face value $3,000, 15 percent interest-bearing, dated August 18, maturing in 180 days. Assume 360 days in a year. Required: Sixty days prior to the maturity of the note, the company endorsed the note with recourse (discounted) to XY Finance Company at a 9 percent annual rate. Compute the following: (a) The company's proceeds from the note $_________________. Computations: (b) The company's interest earned (net of discount) $___________. Computations: (c) Give the journal entry for the company to record the discounting transaction, assuming that the end of their fiscal year is June 30. The discount is to be recorded as a sale. Assume interest revenue was not recorded before the discounting.