Required Information Exercise 7-6 (Algo) Notes payable-discount basis LO 2 [The following information applies to the questions displayed below] On August 1, 2019, Colombo Co.'s treasurer signed a note promising to pay $120,600 on December 31, 2019. The proceeds of the note were $114,000. Exercise 7-6 (Algo) Part c-Journal entry c-1. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2019. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet 1 Record the proceeds of a short-term note payable (discount basis), Note: Enter debits before cred Dafe Aug 01, 2010 General Journal Debit Credit c-2. Record the journal entry to show the effects of recording interest expense for the month of September. (Use rounded discount rate calculated in part a. If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet Record interest expense for one month. Note: Enter debits before credits. Date Sep 30, 2010 General Joumal Debit Credit View general journal Record entry Clear entry c-3. Record the journal entry to show the effects of repaying the note on December 31, 2019. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list Journal entry worksheet 1 Record the repayment of the short-term note. Note: Enter debits before credits Date Dec 31, 2019 General Journal Debit Credit Record entry Clear entry View general journal