For question 14-16, use the following information: July 1, Korlan Company received a $2,000, 180 day, 10% promissory note in settlement of accounts receivable from Z Corporation. 60 days later on August 30th, Korlan Company discounted the note to a bank (discount rate = 12%). 14.) What is the maturity value of the promissory note? (a.) $2,000 (b.) $2,041 (c.) $2,050 (d.) $2,100 (e.) none of the above 15.) Journalize the transaction for July 1. (a.) Dr. Notes Receivable 2,050; (b.) Dr. Accounts Receivable 2,000; (c.) Dr. Notes Receivable 2,000; (d.) Dr. Accounts Receivable 2,100; (e.) none of the above Cr. Accounts Receivable 2,050 Cr. Notes Receivable 2,000 Cr. Accounts Receivable 2,000 Cr. Notes Receivable 2,100 16.) Journalize the transaction for August 30. [hint: You need to calculate cash proceeds to Korlan Company. Assume August 30th is 60 days later] (a.) Dr. Cash 2009; Cr. Notes Receivable 2000; Cr. Interest Income 9 (b.) Dr. Cash 2029.50, Cr. Notes Receivable 2000; Cr. Interest Income 29.50 (c.) Dr. Cash 2142; Cr. Notes Receivable 2000; Cr. Interest Income 42 (d.) Dr. Cash 2058; Dr. Interest Expense 42; Cr. Notes Receivable 2100 (e.) none of the above