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Following are selected transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8 note dated March 21 from Tamara Jackson in granting a time
Following are selected transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8 note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Use 360 days a year.) Complete this question by entering your answers in the tabs below. nces Interest Amounts General Journal Complete the table to calculate the interest amounts at September 17. Total Through Maturity Principal Rate (9) Total interest Interest Amounts General Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet 2 3 Accepted a $9,500, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past due account receivable. Note: Enter debits before credits General Journal Date Mar 21 Debit Credit
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