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Exercise 9-12 Honoring a note LO P3 Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $11,000, 180-day, 7% note dated November 1

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Exercise 9-12 Honoring a note LO P3 Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $11,000, 180-day, 7% note dated November 1 from Kelly White in granting a time Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note extension on her past-due account receivable Apr. 30 White honors her note when presented for payment, February has 28 days for the current year First, complete the table below to calculate the interest amounts at December 31st and April 30th (Use 360 days a year.) Novem ber 1 January 1 Through April 30 Total Through Through Maturity December 31 Principal Rate (%) Time Total interest

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