ch.7 q.11

Ruired information [The following information applies to the questions displayed below] Following are transactions of Danica Company. December 13 Accepted a $18,000,45-day, 101 note in granting Miranda tee a time extension on her past-due aceount receivable. December 31 prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use 360 days a year. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Use the calculated value to prepare your journal entries. Journal entry worksheet Prepare an adjusting entry to record the accrued interest on the Lee note. Note: Enter debits before credits