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deadline after 10 min from now. Please resolve as soon as possible Case No.2 2. On 1-11-2017 the Ali ask the bank to discount the

deadline after 10 min from now. Please resolve as soon as possible

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Case No.2 2. On 1-11-2017 the Ali ask the bank to discount the note( information provided in the table below) . bank agrees to discount the note at a discount rate of %6. and at maturity the maker didn't pay amount due of note and the bank pays $500 legal expenses and the agreement between Ali and the bank includes transfer of ownership and risk to the bank, and later the maker paid the amount due. Face value Interest on Note |Date of issuance Maturity date $7000 $630 1-9-2017 1-4-2018 Required: Entry to be recorded on 1/11/2017 Amount of Adjusting Entry at 31/12/2017 Entry at maturity when maker paid the amount due. Amount of adjusting entry for interest at maturity

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