At the end of 2015, while auditing Sandlin Companys books, before the books have been closed, you find the following items:

1. A building with a 30-year life (no residual value, straight-line depreciation) was purchased on January 1, 2015, by issuing a $90,000 non-interest bearing 4 year note. The entry made to record the purchase was a debit to building and a credit to notes payable for $90,000; 12% is a fair rate of interest on the note. Depreciation was recorded at the end of the year based on this journal entry.

How to calculate discount on notes payable of 32 803 ,

depreciation expense of 1093, and interest expense 1093,

is there a way to do it on financial calculator?

Part 1 Entries to correct error: Discount on Notes Payable Building 32,803 LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL 32,803 Accumulated Depreciation: Building............................ Depreciation Expense: Building_... 1,093 1,093 6,864 Interest Expense............. Discount on Notes Payable ... 6,864