Ramsey Company issues an $800,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 7%.a. Journalize Ramsey’s entries to record:1. the issuance of the note.2. the payment of the note at maturity.b. Journalize Buckner’s entries to record:1. the receipt of the note.2. the receipt of the payment of the note at maturity.

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