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Notes Receivable Discounting

Marienau Suppliers had the following transactions:

Mar. 1	Sold merchandise on account to G. Perez, $5,200.
20	G. Perez gave a $5,200, 90-day, 6% note to extend time for payment.
30	G. Perez's note is discounted at Commerce Bank at a discount rate of 8%.
Apr. 20	Received a $3,300, 60-day, 6% note from D. Larson in payment for sale of merchandise.
May 5	D. Larson's note is discounted at Commerce Bank at a discount rate of 7%.
June 19	D. Larson's note is dishonored. The bank bills Marienau for the maturity value of the note plus a $60 bank fee.
July 31	D. Larson's dishonored note is collected; Larson pays Marienau the maturity value of the note, the $60 bank fee, and interest at 6% on the maturity value plus the bank fee.
Aug. 1	Sold merchandise on account to A. Bauer, $5,300.
12	A. Bauer paid $400 and gave a $4,900, 30-day, 5% note to extend time for payment.
Sept. 11	A. Bauer paid $500, plus interest, and gave a new $4,400, 60-day, 6% note to extend time for payment.
26	A. Bauer's note is discounted at Commerce Bank at a discount rate of 7.5%.
Nov. 10	A. Bauer's note is dishonored. The bank bills Marienau for the maturity value of the note plus a $60 bank fee.
Dec. 15	A. Bauer's dishonored note is collected. Bauer pays Marienau the maturity value of the note, the $60 bank fee, and interest at 6% on the maturity value plus the bank fee.

Required:

Record the transactions in a general journal. Assume 360 days in a year.

DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 20-- Mar. 1 1 2 N 2 3 3 4 4 20 4 5 5 6 6 7 30 7 00 8 8 00 9 D 10 10 11 Apr. 20 11 12 12 13 13 14 May 5 14 15 15 16 16 17 17 18 June 19 09 18 19 19 20 20 21 July 31 21 22 22 23 23 24 24 27 27 28 12 28 29 29 30 30 31 31 32 Sept. 11 32 33 33 0101 34 34 35 35 36 36 37 26 37 38 38 39 39 40 40 41 Nov. 10 41 42 42 43 43 44 Dec. 15 44 45 45 46 46 47 47