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Exercise 9-11 Prepare journal entries for the following transactions of Danica Company for 2016. Dec. 13 Accepted a $9,500,60-day,8.0% note dated December 13 from

Exercise 9-11 Prepare journal entries for the following transactions of Danica Company for 2016. Dec. 13 Accepted a $9,500,60-day,8.0% note dated December 13 from Miranda Lee 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 Lee note.

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