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Following are selected transactions for Vitalo Company Nov. 1 Accepted a $6,000, 180-day, 8 note dated November 1 from Kelly White in granting a tine
Following are selected transactions for Vitalo Company Nov. 1 Accepted a $6,000, 180-day, 8 note dated November 1 from Kelly White in granting a tine extension on her past- due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note. Apr. 30 White honored her note when presented for payment; Pebruary has 28 days for the current year. Complete the table to calculate the interest amounts at December 31st 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 Interest Amounts Journal Complete the table to calculate the interest amounts at December 31M and April 30th November 1 January 1 Total Through Maturity Through December 31 Through April 30 Principal Rate(%) Time Total interest Interest Amounts General Journal Use those calculated values to prepare your journal entries (assume that no reversing entries are recorded). View transaction list Journal entry worksheet
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