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Roseland Design borrowed $700,000 on a 90-day note from Corone Funding Company CorpOne discounts the note at 8%. (Assume a 360-day year is used for

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

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