Branch Corporation issued $17 million of commercial paper on march 1 on a nine-month rate. Interest was discounted at issuance at a 12% discount rate.

Branch Corporation issued $17 million of commercial paper on March 1 on a nine- month note. Interest was discounted at issuance at a 12% discount rate Prepare the journal entry for the issuance of the commercial paper and its repayment of maturity (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 3 Record the issuance of the commercial paper. Note Unter debts before credits Transaction General Journal Debit Credit