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3 4 5 6 | Accepted a $14,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of

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3 4 5 6 | Accepted a $14,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. :39 Note: Enter debits before credits General Journal Debit Credit Mar 03, 2017 Cash 14,210 Accounts receivable-H. Cheng Interest receivable 1,400 210 es Record entry Clear entry View general journal H Cheng Note Exercise 7-12 Notes receivable transactions LO P4 Following are selected transactions of Danica Company for 2016 and 2017 Dec. 13 Accepted a $20,00, 45-day, note dated December 13 in granting Miranda Lee a tino extension on her past-due 2016 account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. 2017 Jan. 27 Received Lee's paymen Mar. 3 Accepted a $14,000, 6, 90-day note dated March 3 in granting a tine extension on the past-due account eBook Hint Pint ferences t for prineipal and interest on the note dated December 13. receivable of Tomas Company dated Makch 17 in granting H. Cheng a tine extension on his past-due aceount receivable Apr. 16 H. Cheng dishonored his note vhen presented for payment. May 1 Wrote off the H. Cheng account againat the Allowanoce for Doubtful Accounts. June 1 Received the Tomas payment for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to intermediate calculations. Use 360 days a year.) prepare your journal entries. (Do not round Complete this question by entering your answers in the tabs below General M Lee Note Tomas Co Note H Cheng Note Journal Use those calculated values to prepare your journal entries View transaction list Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 01:28:47 4 6 Book int rint Accepted a $12,000, 30-day, 8% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. Note: Enter debits before credits rences Date General Journal Debit Credit Mar 17, 2017 Notes receivable-H. Cheng 12,080 Interest expense Accounts receivable H. Cheng 80 12,000 Record entry Clear entry View general journal

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