On June $3,20$X$1,$ Georgia State Company received a $$10,400,45-$day, $10$ percent note from Sampson Byrd$,$ a customer whose account was past due. The note was discounted on On June $3,20$X$1,$ Georgia State Company received a $$10,400,45-$day, $10$ percent note from Sampson Byrd$,$ a customer whose account

was past due. The note was discounted on June $18,20$X$1$ at the Georgia State Bank and Trust. The bank charged a discount rate of

$12\%.$

Required:

Prepare the journal entries regarding this note. $($Use $360$ days a year. Round your answers to $2$ decimal places.$)$

Answer is not complete.June $18,20$X$1$ at the Georgia State Bank and Trust. The bank charged a discount rate of $12\%.$

Required:

$1.$ Prepare the journal entries regarding this note. $($Use $360$ days a year. Round your answers to $2$ decimal places.$)$