Following are transactions for Ridge Company. Mar. 21 Accepted a $4,800, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable

. Sept. 17 Jackson dishonored her note.

Dec. 31 After trying several times to collect, Ridge Company wrote off Jacksons 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. Use 360 days a year.)

Complete this question by entering your answers in the tabs below.

• Interest Amounts
• General Journal

Complete the table to calculate the interest amounts at September 17.

	Total Through
	Maturity
Principal
Rate (%)
Time
Total interest

Journal entry worksheet

accepted a $4,800, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Mar 21