On July 1, 2018, Regal Corporation obtained a $15,000 note receivable from a cutomer. The note along with interest at 8% is due on December 31, 2018. On August 30, 2018, Regal discounted the note at First City Bank. The bank's discount rate is 10%. Prepare the journal entries required on August 30, 2018 to accrue interest and to record the discounting for Regal (round all calculations to two decimal points).