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I know this may look like 3 problems it is one. The professor just decided to break it up into small parts. Id really appreciate
I know this may look like 3 problems it is one. The professor just decided to break it up into small parts. Id really appreciate it if you could do all 4. Thank you so much in advance - LD
Homework Saved Following are transactions of Danica Company Dec. 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 184, 90-day note in granting a tine extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 9 note in granting H.Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas 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.) Complete this question by entering your answers in the tabs below. ces M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. (Round "Total interest answers to nearest whole dollars.) Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 Principal Rate (%) Time Total Interest Tomas Co Note > nou of 9 HP Neyt Dec. 13 Accepted a $9,500, 45-day, 8 note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 98-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 94 note in granting H.Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note. May i Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas 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.) + 4 Complete this question by entering your answers in the tabs below. -nces General M Lee Note Tomas Co Note H Cheng Note Journal First, complete the table below to calculate the interest amounts. (Round "Total interest answers to nearest whole dollars.) Total Through Maturity Principal Rate(%) Time Total interest Mee Note HCheng Note Dec. 13 Accepted a $9,500, 45-day, 84 note in granting Miranda Lee a time extension on het past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Sok Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 100, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 99 note in granting H.Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas 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.) int Print Complete this question by entering your answers in the tabs below. erences M Lee Note Tomas Co Note Cheng Note General Journal First, complete the table below to calculate the interest amounts (Round Total interest answers to nearest whole dollars.) Total Through Maturity Principal Rate(%) Time Total interest Step by Step Solution
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