Question 3.) On April 1, 2019, Jim's Lawn Service borrowed money from their bank by issuing a $100,000, 180 days, non-interest-bearing note. The note was discounted to 10%. Compute the following:

1) How much money did Jim receive?

2) What was the total amount of interest paid?

3) What is the effective 180 days interest rate on this note payable? (Round to 4 decimals)

4) What is the approximate annual effective interest rate on this note payable?

5) Record the journal entries for the issuance of the note.