On November 01, 2014 MM Co. discounted three notes from HSBC bank. Bank charged 16%interest.

Note 1: 10%, 20,000 note receivable, for 6 months received at July 01, 2014.

Note 2: 15%, 50,000 note receivable, for 6 months received at September 01, 2014.

Required: record the discounting of all above two notes in Companys general journal. Show all the calculations.