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how do i answer this Required Information The following information applies to the questions displayed below) pints Following are transactions of Danica Company December 13
how do i answer this
Required Information The following information applies to the questions displayed below) pints Following are transactions of Danica Company December 13 Accepted a 59,500, 45-day, note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting try to record the accrued interest on the Lee note. January 27 Received Lee's payment for principal and interest on the note dated December 13. March ) Accepted a $5,000, 101, 10-day note in granting a tine extension on the past-dve account receivable of Tomas Company, March 17 Accepted a 12,000, 30-day. A note in granting H.Cheng a time extension on his past-due account receivable. April 16 H. Cheng dishonored his notes May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tonas payment for principal and interest on the note dated March 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.) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Tomas Loe Note Company Note HCheng Note General Journal First, complete the table below to calculate the interest amounts (found "Total Interest answer to nearest whole dollar) Complete this question by entering your answers in M Lee Note Tomas Company Note H Cheng Note General Journal First, complete the table below to calculate the interest amo Total Through Maturity $ 5,000 X 10% X Principal Rate (%) Time Total interest 90/360 x $ 125 X Step by Step Solution
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