calculation of Interest- Enter the principal amount, interest rate, and number of days of interest to be recorded for each note. verify that total interest revenue agrees with the trial balance.

me roliowing selected transactions are from Garcia Company Year 1 Decenber 15 Accepted a 520,480 , 60-doy, 12x note in granting Rita Griffin a tine extension on his past-due account recelvable. December 31 Made on adjusting entry to recond the accrued Interest on the Goiffin note. Year 2 February 14 Received triffin's payment of principal and interest on the note dated December 16. Harch 2 Accepted a $9,000,6x, ge-day note in granting a tine extension on the past-due account recelvable from liright Company Varch 17 Accepted a $7,200, 30 -day, 100 note in granting Wang Lee o tine extension on her past-due account receivable. April it lee dishonored her note. il wirlght company dishonored its note. August? Accepted o $22, 000 , 90 -doy, 1 ek note in granting a time extension on the past-due account recelvable of Collins Conpany 5 eptenter 3 Accepted a $11,400, 6a-day, 10x note in granting Morifo Gonzolez a tithe extension on his past-due account recelvabie, noveaber 2. Aecelved poyment of principal plus interest from Gonzalez for the september 3 note. loweaber 5. Received payment of principal plus Interest from collins for the Auguit 7 note. Desember i lirote off the lee occount against the Allowance for Doubsful Accounts. Enter the principal omount, interest rate, and number of days of interest to be recorded for each note. verify that totat interest revenue agrees with the trial batance. Novenber 2 Received payment of principal plus interest from Gonzalez for the September 3 note. November 5 Recelved paynent of principal plus interest from Collins for the August 7 note. Deceaber 1 Wrote off the Lee account against the Allowance for Doubtful Accounts. \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Garcia Company } \\ \hline Calculation of interest revenue \\ \hline February 14-Griffin note: \\ \hline Principal \\ \hline Interest rate \\ \hline Number of days' interest to be recorded in Year 2 \\ \hline \\ \hline \\ \hline \end{tabular} sehedule of Receivables