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Exercise 9-13 Honoring a note LO P4 Following are selected transactions for Vitalo Company Nov. 1 Accepted a $5,000, 180-day, 7% note dated November 1
Exercise 9-13 Honoring a note LO P4 Following are selected transactions for Vitalo Company Nov. 1 Accepted a $5,000, 180-day, 7% note dated November 1 from Kelly lhite in granting a time extension on her past-due account Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note receivable. Apr. 38 White honored her note when presented for payment; February has 28 days for the current year. Complete the table to calculate the interest amounts at December 315t and April 30th and use those calculated values to prepare your journal entries (assume that no reversing entries are recorded) (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. General Journal Interest Amounts Complete the table to calculate the interest amounts at December 31st and April 30th November 1January 1 Through MaturityDecember 31 Aril 30 Total Through Through Principal Rate (%) Time Total interest General Journal>
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