Instructions 1. Record the transactions in a general journal. When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Assume 360 days in a year, Marienau Suppliers had the following transactions: Mar. 1 Sold merchandise on account to G. Perez $5,000. 20 G. Perez gave a $5,000, 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 $3,000, 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 $40 bank fee. D. Larson's dishonored note is collected; Larson pays Marienau the maturity value of the note, the $40 bank fee, and interest at July 31 6% on the maturity value plus the bank fee. Aug. 1 Sold merchandise on account to A. Bauer $5,600 12 A. Bauer paid $400 and gave a $5,200, 30-day, 5% note to extend time for payment. Sept. 11 A. Bauer paid $400, plus interest, and gave a new $4,800, 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 $40 bank fee. Dec. 15 A. Bauer's dishonored note is collected. Bauer pays Marienau the maturity value of the note, the $40 bank fee, and interest at 6% on the maturity value plus the bank fee