Selkirk company obtained a $15,000 note receivable from a customer on january 1, 2016. the note, along with interest at 10%, is due on july 1, 2016. on february 28, 2016, selkirk discounted the note at unionville bank. the bank’s discount rate is 12%.
required: prepare the journal entries required on february 28, 2016, to accrue interest and to record the discounting (round all calculations to the nearest dollar) for selkirk. assume that the discounting is accounted for as a sale

Betty contracted with scooby’s skate store to deliver a pair of skates to jake for his birthday. scooby’s owner was going on a trip and delegated the delivery of the skates to brian. brian failed to make delivery. can jake sue brian for breach of contract, as he was not a party to the original contract? explain your answer. brian was not a party to the original contract. why would a court hold him responsible for failing to make delivery? if you do not think a court would hold him responsible, explain your answer. can jake sue scooby’s skates for breach of contract? explain your answer.