Check my work Following are selected transactions of Danica Company for 2017 and 2018. 1.25 points 2017 Dec. 13 Accepted a $12,000, 45-day, 6% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. eBook 2018 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $6,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $4,000, 30-day, 6% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 h. Cheng dishonored his note when presented for payment. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas payment for principal and interest on the note dated March 3. Hint Print Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) References Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note HCheng Note General Journal Complete the table to calculate the interest amounts. Total Through Maturity Accrued at December 31 Interest Recognized January 27 Principal Rate(%) Time Total interest M Lee Note Tomas Co Note > Complete this question by entering your answers in the tabs M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Total Through Maturity Principal Rate (%) Time Total interest Complete this question by entering your answers in the tabs be M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Total Through Maturity Principal Rate(%) Time Total interest M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list 1 Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. ecember 2 Accepted a $6,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. Credit 3 Accepted a $4,000, 30-day, 6% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. 4 H. Cheng dishonored his note when presented for payment. - -CELL. AL--- - ------ --- -- - All-...---- 4 H. Cheng dishonored his note when presented for payment. Credit 5 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. 6 Received the Tomas payment for principal and interest on the note dated March 3. Note : = journal entry has been entered Record entry Clear entry View general journa
