On December 31, 2018, Denver Company sold land in exchange for a nine-month, 10% note. The note requires the payment of $200,000 plus interest on September 30, 2019. The company's fiscal year-end is December 31. The 10% rate properly reflects the time value of money for this type of note. On March 31, 2019, Denver discounted the note at the Bank of the East (without recourse).The bank's discount rate is 12%.

Prepare a journal entry on March 31, 2019.