Ramsey Company issues an $535,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 4%. Required: A. Journalize Ramseys entries to record (refer to the companys Chart of Accounts for exact wording of account titles):

1. the issuance of the note on January 1.

2. the payment of the note at maturity. Assume a 360-day year. B. Journalize Buckners entries to record (refer to the companys Chart of Accounts for exact wording of account titles): 1. the receipt of the note on January 1. 2. the receipt of the payment of the note at maturity. Assume a 360-day year.