Selkirk Company obtained a dollar 30,000 note receivable from a customer on January 1, 2016. The note, along with interest at 12 percentage, is due on July 1, 2016. On February 28, 2016, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 14 percentage. Required: Prepare the journal entries required on February 28, 2016, 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.)