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Roseland Design borrowed $700,000 on a 90 -day note from CorpOne Funding Company. CorpOne discounts the note at 8%. (Assume a 360 -day year is
Roseland Design borrowed $700,000 on a 90 -day note from CorpOne Funding Company. CorpOne discounts the note at 8%. (Assume a 360 -day year is used for interest computations.) Required: a. Journalize Roseland's entries for: 1. The issuance of the note. 2. The payment of the note at maturity. If an amount box does not require an entry, leave it blank. b. Journalize CorpOne's entries for: 1. The receipt of the note. 2. The receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank
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