Following are selected transactions of Danica Company for 2016 and 2017 2016 Dec. 13 Accepted a $10,000, 45-day, 10 note dated December 1 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 hote. 2017 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. Accepted a $4.000, 61, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company 17 Accepted a $2,000, 30-day, 61 note dated March 17 in granting ll. Cheng a time extension on his past due account receivable. Apr. 16 H. Cheng dishonored his note when presented for payment. May 1 Nrote oft the H. Cheng account against the allowance for Doubtful Accounts. June 1 Received the Tomas paynent for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the Interest amounts, Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 Principal Rate(%) Time Total Interest Mee Note Tomas Co Note > Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate(%) Time Total interest ( M Lee Note H Cheng Note > Total Through Maturity Principal Rate (%) Time Total interest Mar. 2017 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. 3 Accepted a $4,000, 61, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 6 note dated March 17 in granting H. Cheng, a time extension on his post-due account receivable. Apr. 16 H. Cheng dishonored his note when presented for payment. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. 1 Received the Tomas payment for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) June Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction ist Journal entry worksheet Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits Dato General Journal Debit Credit Jan 27, 2017 Record entry Clear entry View general Journal
