Following are transactions of Danica Company. Dec. 13 Accepted a $24,000, 45-day, 9% note 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 note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)

General Journal:

Record acceptance of a $24,000, 45-day, 9% note in granting Miranda Lee a time extension on her past-due account receivable.

Prepare an adjusting entry to record the accrued interest on the Lee note.

Interest amounts

Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st, Interest Total Through Recognized Maturity December 31 $ 24,000 $ 24,000 Principal Rate (%) 9% 9% Time Total interest