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Selkirk Company obtained a $36,000 note receivable from a customer on January 1, 2021. The note, along with interest at 10%, is due on July

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Selkirk Company obtained a $36,000 note receivable from a customer on January 1, 2021. The note, along with interest at 10%, is due on July 1, 2021. On February 28, 2021, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 12%. Required: Prepare the journal entries required on February 28, 2021, to accrue interest and to record the discounting for Selkirk. Assume that the discounting is accounted for as a sale. (Do not round intermediate calculations. 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 2 Record the accrued interest earned. Note: Enter debits before credits General Journal Debit Credit Date February 28, 2021 Record entry Clear entry View general journal required for a transaction/event, select "No journal entry required" in the first account field.) If no entry is View transaction list ook 1 Journal entry worksheet nt 1 2 -nces Record the discounting of note receivable. Note: Enter debits before credits. General Journal Debit Credit Date February 28, 2021 Record entry Clear entry View general Journal

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