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Following are transactions of Danica Company. December 1 3 Accepted a $ 1 4 , 0 0 0 , 4 5 - day, 2 %
Following are transactions of Danica Company.
December Accepted a $day, note in granting Miranda Lee a time extension on her pastdue account receivable.
December Prepared an adjusting entry to record the accrued interest on the Lee note.
Complete the table to calculate the interest amounts at December and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use days a year.
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Interest
Amounts
Complete the table to calculate the interest amounts at December
tabletableTotal ThroughMaturitytableInterestRecognizedDecember PrincipalRate TimeTotal interest,,
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