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Exercise 9-13 Notes receivable transactions LO C2 Following are selected transactions Dulcinea Company for 2012. Dec. 13 Accepted a $19,000, 45-day, 9% note dated December
Exercise 9-13 Notes receivable transactions LO C2
Following are selected transactions Dulcinea Company for 2012. |
Dec. | 13 | Accepted a $19,000, 45-day, 9% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable. |
31 | Prepared an adjusting entry to record the accrued interest on the Lee note. |
First, complete the table below to calculate the interest amounts at December 31st. (Do not round your intermediate calculations. Use 360 days a year.) |
Use the calculated value to prepare your journal entries. |
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