Exercise 7-14 Honoring a note LO P4 Nov. Following are transactions for Vitalo Company. 1 Accepted a $16,000, 180-day, 6% 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 Complete the table to calculate the interest amounts at December 31st and April 30th. Total Through Maturity November 1 Through December 31 January 1 Through April 30 Principal Rate(%) Time Total interest Interest Amounts General Journal > Exercise 7-14 Honoring a note LO P4 Following are transactions for Vitalo Company. Nov. 1 Accepted a $16,800, 180-day, 6% 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. 3e 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 1 2 3 > Accepted a $15,000, 180-day, 6% 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 Exercise 7-14 Honoring a note LO P4 Following are transactions for Vitalo Company. Nov. 1 Accepted a $16,600, 180-day, 6% 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 ment. Assume White honored her note when presented for entries were made on January 1. reversing Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Record entry Clear entry View general journal
