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Following are transactions of Danica Company. December 13 Accepted a $9,500,45-day, 81 note in granting Miranda Lee a time extension on her past-due account receivable.
Following are transactions of Danica Company. December 13 Accepted a $9,500,45-day, 81 note in granting Miranda Lee a time extension on her past-due account receivable. December 31 prepared an adjusting entry to record the acerued interest on the tee note. January 27 Received Lee's payment for prineipal and interest on the note dated December 13. March 3 Accepted a $5,000,101,90-day note in granting a time extension on the past-due account receivable of Tomall Company. March 17 Accepted a $2,000,30-day, 98 note in granting H.cheng a time extension on his past-due account receivable. Apri1 16 H. Cheng dishonored his note. May 1 Wrote oIf the H. Cheng account againat the Allowance for Doubtful Accounta. June 1 Received the Tomas payment for prineipal and interest on the note dated Mareh 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Complete the table to calculate the interest amounts. (Round "Total interest" answers to nearest whole dollar.) First, complete the table below to calculate the interest amounts, (Round "Total interest" answer to nearest whole dollar.) First, complete the table below to calculate the interest amounts. (Round "Total interest" answer to nearest whole dollar.) Journal entry worksheet 2 Received Lee's payment for principal and inferest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Journal entry worksheet 56 Accepted a $5,000,10%,90-day note in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits belore credits. Journal entry worksheet Accepted a $2,000,30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable. Note: Enter debits before credits. H. Cheng dishonored his note. Note: Enter debits before credits. Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Received the Tomas payment for principal and interest on the note dated March 3. Note: Enter debits before credits
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