Selkirk Company obtained a $15,000 note receivable from a customer on January 1, 2018. The note, along with interest at 12%, is due on July 1, 2018. On February 28, 2018, Selkirk discounted the note at Unionville Bank. The banks discount rate is 14%. Required: Prepare the journal entries required on February 28, 2018, to accrue interest and to record the discounting for Selkirk. Assume that the discounting is accounted for as a sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet 2 Record the accrued interest earned. Note: Enter debits before credits. Date General Journal Debit Credit February 28, 2018 Journal entry worksheet 2 Record the discounting of note receivable. Note: Enter debits before credits. Date General Journal Debit Credit February 28, 2018