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Complete the table to calculate the interest amounts at December 31 st and April 30 th and use those calculated values to prepare your journal

Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.)

Time

  • 30/360
  • 59/360
  • 60/360
  • 67/360
  • 120/360
  • 121/360
  • 180/360

General Journal

  • Accounts payableK. White
  • Accounts receivableK. White
  • Allowance for doubtful accounts
  • Bad debts expense
  • Cash
  • Cost of goods sold
  • Credit card expense
  • Factoring fee expense
  • Interest expense
  • Interest payable
  • Interest receivable
  • Interest revenue
  • Merchandise inventory
  • Notes payableK. White
  • Notes receivableK. White
  • Prepaid insurance
  • Sales
  • Sales discounts

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Following are transactions for Vitalo Company. Nov. 1 Accepted a $9,000, 180-day, 8note from Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the white note. Apr. 30 white honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest General Amounts Journal Complete the table to calculate the interest amounts at December 31st and April 30th. November 1 January 1 Total Through Through Through Maturity December 31 April 30 Principal Rate(%) Time Total interest Interest Amounts General Journal > Following are transactions for Vitalo Company. Nov. 1 Accepted a $9,000, 180-day, 8: note from Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the white note. Apr. 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet Accepted a $9,000, 180-day, 8% note from Kelly White in granting a time extension on her past-due account receivable. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general Journal Adjusted the year-end accounts for the accrued interest earned on the White note. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal White honored her note when presented for payment. Assume no reversing entries were made on January 1. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Record entry Clear entry View general Journal

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