Make of necessary journal entry for independent transaction

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Reference no: EM132563145

Make all of the necessary journal entries for the following independent transactions:

Question 1: The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is not paid on the maturity. (Protest fee $6)

Question 2: The company discounted its notes receivables for $5,000 and collected $4,400. This note is paid on maturity.

Question 3: The company gave its $60,000 note receivable to a bank for collection. The note is not paid on maturity. Bank protested the note on behalf of the company and credited nottery public fee from company's account for $8.

Reference no: EM132563145

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