On February 1, 2021. Tigers Corp. sold a building for $900,000, receiving a $350,000 cash down payment and a 9-month, 4% note for the remaining balance. Principal and interest are due at maturity and the stated 4% interest rate reflected the market rate of interest at the time of sale. On June 30, 2021, Tigers Corp. discounted the note without recourse at a local bank at a 6% discount rate. Round your numbers for this problem to the nearest dollar.

a. How much interest receivable that Tigers Corp. must give up to receive cash on June 30, 2021?

b. Prepare any journal entries that Tigers Corp. should record on June 30, 2021.