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I need help with the following question. I need to prepare general journal, calculate of interest Check my work GL0701 - Based on Problem 7-5A

I need help with the following question. I need to

prepare

general journal, calculate of interest

image text in transcribedimage text in transcribed
Check my work GL0701 - Based on Problem 7-5A LO C2, C3, P4 15 The following selected transactions are from Taylor Company. points 2016 Dec. 16 Accepted a $15, 600, 60-day, 10% note dated this day in granting Spencer Lauer a time extension on his past-due eBook account receivable. 31 Made an adjusting entry to record the accrued interest on the Lauer note. Ask 2017 Print Feb. 14 Received Lauer's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $9,000, 10%, 90-day note dated this day in granting a time extension on the past-due account References receivable from Garcia Co. 17 Accepted a $19,200, 30-day, 7% note dated this day in granting Lindsey Martin a time extension on her past-due account receivable. Apr. 16 Martin dishonored her note when presented for payment. May 31 Garcia Co. refused to pay the note that was due to Taylor Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Garcia Co. 's accounts receivable. July 16 Received payment from Garcia Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 108. Aug . 7 Accepted a $20,000, 90-day, 10% note dated this day in granting a time extension on the past-due account receivable of Griffin Co. Sep. 3 Accepted a $4,200, 60-day, 108 note dated this day in granting Carolyn Collins a time extension on his past-due account receivable. Nov. Nov. IN Received payment of principal plus interest from Collins for the September 3 note. Received payment of principal plus interest from Griffin for the August 7 note. Dec. Wrote off the Martin account against the Allowance for Doubtful Accounts.15 General General Trial Balance Schedule of Calculation of points Requirement Journal Ledger Receivables Interest General Journal tab - Prepare the 2017 journal entries related to the notes and accounts receivable of Taylor Co. eBook Calculation of interest tab - Use the interest formula (P x R x T) to verify the amount of interest recorded in your entries. Ask Verify that total interest revenue agrees with the trial balance. Print References

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