Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries.
I already filled out the other charts. It still says "not complete" so I must be missing a tab in the journals.
I need help filling this chart out. I typed 0 as place keepers.
Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. Dec. 13 Accepted a $18,000, 45-day, 8% note 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. Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $10,000, 30-day, 8% note in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note. 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. 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.) Answer is not complete. M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Principal Rate(%) Time Total interest S Total Through Maturity $ 18,000 8% 45/360 180 Amount Interest Accrued at December Recognized January 27 31 $ 18,000 $ 18,000 8% 8% 18/360 27/360 S 72S 108 Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal ectangular Snip First, complete the table below to calculate the interest amounts. Principal Rate(%) Time Total interest Total Through Maturity $ 12,000 6% 90/360 $ 180 M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Principal Rate(%) Time Total interest Total Through Maturity $ 10,000 8% 30/360 $ 66 No General Journal Debit Credit Date Jan 27 Cash 18.000 Notes receivable-M. Lee Interest receivable Interest revenue 0 X Mar 03 12.000 Notes receivable-Tomas Co Accounts receivable-Tomas Co 12.000 Mar 17 10.000 Notes receivable-H. Cheng Accounts receivable-H. Cheng 10.000 Apr 16 Accounts receivable-H. Cheng Notes receivable-H. Cheng Interest revenue May 01 Allowance for doubtful accounts Accounts receivable-H. Cheng Jun 01 12.180 Cash Notes receivable-Tomas Co Interest revenue 12.000 180
