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Following are transactions of Danica Company. December 13 Accepted a $10,000, 45-day, 6% note in granting Miranda Lee a time extension on her past-due account
Following are transactions of Danica Company. December 13 Accepted a $10,000, 45-day, 6% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Interest Amounts General Journal Complete the table to calculate the interest amoun Interest Total Through Maturity Recognized December 31 Principal Rate (%) Time Total interest Journal entry worksheet 1 2 Record acceptance of a $10,000, 45-day, 6% note in granting Miranda Lee a time extension on her past-due account receivable. Note: Enter debits before credits. Date December 13 General Journal Debit Credit
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