Exercise 7-11 Notes receivable transactions LO P3 Following are selected transactions Danica Company for 2014 and 2015 2014 Dec. 13 Accepted a $14,000, 45-day, 8% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable Prepared an adjusting entry to record the accrued interest on the Lee note 31 2015 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13 Mar. 3 Accepted a $8,000, 8%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $6,000, 30-day, 8% note dated March 17 in granting H Cheng a time extension on his past-due account receivable Apr. 16 H. Cheng dishonors his note when presented for payment. Wrote off the H. Cheng account against the Allowance for Doubtful May1 Accounts Received the Tomas payment for principal and interest on the note June 1 dated March3 First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations and round your final answers to nearest whole dollar. Use 360 days a year.) M. Lee Note Amount Through Accrued at Recognized otal nterest Maturit December 31January 27 Principal Rate (%) Time Total interest Tomas Co Note Total Through Maturity Principal Rate (%) Time Total interest