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ework Following are transactions of Danica Company. December 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee time extension on her past-due
ework Following are transactions of Danica Company. December 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Help Save & Exit Submit Check my work January 27 Received Lee's payment for principal and interest on the note dated December 15. Parch 3 Accepted a $5,000, 10%, 90-day note in granting a time extension on the past due account receivable of Yomas Company. March 17 Accepted $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable. April 16, Cheng dishonored his note. Hay 1 rote 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 your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. MLee Note Tomas Company Note General H Cheng Note: Journal Complete the table to calculate the interest amounts. (Round "Total interest" answers to nearest whole dollar)
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