Entries for Discounted Note Payable A business issued a 120-day note for $39,000 to a creditor on account. The note was discounted at 8%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. If necessary, round to one decimal place. b. Journalize the entry to record the payment of the note Accounts Payable Cash Interest Payable b. Jo to record the payment of the note at maturity. Notes Payable 0. Notes Receivable Cash b. Jo record the payment of the note at maturity. Interest Expense Interest Receivable Notes Payable Notes Receivable Accounts Payable b. Jo to record the payment of the note at maturity. Cash Interest Expense Notes Payable Notes Receivable b. Journalize the entry to record the payment of the note at Accounts Payable Cash Interest Revenue Notes Payable Notes Receivable b. Journalize the entry to record the payment of the note at maturity. Accounts Payable Cash Interest Expense Interest Revenue Notes Receivable