Premium Office Equipment, Inc., discounted its own USD 30,000, non interest-bearing, 180-day note on 2009 November 16, at Niagara County Bank at a
discount rate of 12 percent. Prepare dated journal entries for:
a. The original discounting on November 16.
b. The adjustment required at the end of the company”s calendar-year accounting period.
c. Payment at maturity.