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Exercise 7-14 Honoring a note LO P4 Following are transactions for Vitalo Company Nowocepted 11.000, 100-day, 14 note totally while in ting a time extension

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Exercise 7-14 Honoring a note LO P4 Following are transactions for Vitalo Company Nowocepted 11.000, 100-day, 14 note totally while in ting a time extension on her post-due account Teceivable Dee. Mjated the year-end secount for the served interest and on the white note Apr. 10 white Sonored her note whes presented for at Complete the table to calculate the interest amounts of December 31st and April goth 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 tabu below. Interest Amts Garvel Xurnal Complete the table to calculate the interest amounts at December 31" and April 10th Total Therwgh Neber1 Through ! Then December 31 3.000. 8.000 7 7 1.000 7 Principal Rate Time Total interest General Journal > Exercise 7-14 Honoring a note LO P4 Following are transactions for Vitalo Company Nov. 1 Accepted a $8,000, 180-day. 76 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 at X 1 Accepted a $8,000, 180-day, 7% note from Kelly White in granting a time extension on her past-due account receivable. time 2 Adjusted the year-end accounts for the accrued interest earned on the White note. 1 3 White honored her note when presented for payment. Assume no reversing entries were made on January 1. Credit Note: - Journal entry has been entered Record entry Clear entry View general journal

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