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Exercise 7 - 2 1 ( Static ) Dishonoring a note LO P 4 Following are transactions for Ridge Company. March 2 1 Accepted a
Exercise Static Dishonoring a note LO P
Following are transactions for Ridge Company.
March Accepted a $day, note from Tamara Jackson in granting a time extension on her pastdue account receivable.
September Jackson dishonored her note.
December After trying several times to collect, Ridge Company wrote off Jacksons account against the Allowance for Doubtful Accounts.
Complete the table to calculate the interest amounts at September and use the calculated value to prepare your journal entries.
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