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Question 1 Not yet answered Marked out of 1000 Plaquestion Discounting a Note Receivable Sonic Inc. received from a customer a $1,600, 9% interest-bearing note that will mature in three months. Two months later, Sonic inc. discounted the note to the bank to yield 12% Provide the required journal entry made by the company at the time the note was discounted Note: Round your answers to the nearest whole dollar. Account Name Dr. Cr. To record interest on nate Cash To record discusing of note Next Save Answers 1.600 Discounting a Note Receivable . Sonic Inc. received from a customer a $1,600, 9% interest-bearing na required journal entry made by the company at the time the note wa Note: Round your answers to the nearest whole dollar. Account Name Dr. Cr. Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Receivable from Factor Note Receivable Discount on Note Receivable Payable to Seller of Receivables Refund Liability Recourse Liability 1,600 V