EX 11-3 Entries for discounting notes payable OBJ. 1 Ramsey Company issues an $800,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 7%. a. Journalize Ramsey's entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. b. Journalize Buckner's entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity