Exercise 7-15 Dishonoring a note LO P4

Following are transactions for Ridge Company.

Mar.21Accepted a $9,500, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable.Sept.17Jackson dishonored her note.Dec.31After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts.

Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare journal entries.(Use 360 days a year.)