Following are transactions of Danica Company.

December 13	Accepted a $12,000, 45-day, 4% 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.

Complete the table to calculate the interest amounts at December 31^st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)

• Interest Amounts
• General Journal

Complete the table to calculate the interest amounts at December 31^st.

	Total Through Maturity	Interest Recognized December 31
Principal
Rate (%)
Time
Total interest

• 2. General Journal

Use the calculated value to prepare your journal entries.