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9 Following are selected transactions for Ridge Company. 10 points Mar. 21 Accepted a $5,200, 180-day, 8% note dated March 21 from Tamara Jackson in
9 Following are selected transactions for Ridge Company. 10 points Mar. 21 Accepted a $5,200, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Round your final answers to nearest whole dollar. Use 360 days a year.) eBook Complete this question by entering your answers in the tabs below. Hint Interest Amounts General Journal Print Complete the table to calculate the interest amounts at September 17. References Total Through Maturity Principal Rate(%) Time Total interest Interest Amounts General Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 > Accepted a $5,200, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Note: Enter debits before credits. General Journal Debit Credit Date Mar 21 Record entry Clear entry View general journal
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