Following are selected transaction of Danica Company for 2016 and 2017.

2016

December 13 Accepted a $16,000, 45-day, 8% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable.

Dec 31 Prepaid an adjusting entry to record the accured interest on the Lee note

2017.

Jan 27 Received Lee's payment for principal and interest on the note dated December 13.

March 3 Accepted a $10,000, 6%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company.

March 7 Accepted a $8,000, 30-day, 6% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable

April 16 H. Cheng dishonored his note when presented for payment

May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts.

June 1 Received the Tomas payment for principal and interest on the note dated March 3.

Complete the table to calculate the interests amounts and use those calculated values to prepare your journal entries

(Do not round intermediate calculations. use 360 days a year)

M Lee Note-Complete the table to calculate the interest amounts. (Total through maturity- Amount Accrued at December 31-Interest Recognized January 27)

Tomas Co Note and H. Cheng Note

Complete the table to calculate the interest amount on Both companies. (Principal, Rate %, Time, Total Interest) Then use the calculated values to prepare your journal entries. PLEASE SHOW YOUR WORK