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Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note....

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Accounting

Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 13% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)

Record the interest expense on the note at maturity.

Record the repayment at maturity.

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