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Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting
Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time 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. M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Amount Total Through Accrued at Maturity December 31 Interest Recognized January 27 Principal Rate (%) Time Total interest Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time 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. M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts Principal Rate (%) Time Total interest Total Through Maturity Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time 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. M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Principal Rate (%) Time Total interest Total Through Maturity Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time 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. M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Date Jan 27 General Journal Debit Credit Record entry Clear entry View general journal > M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 4 5 6 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 before credits. Date Mar 03 General Journal Debit Credit Record entry Clear entry View general journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 4 56 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. Date Mar 17 General Journal Debit Credit Record entry Clear entry View general journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 4 5 H. Cheng dishonored his note. Note: Enter debits before credits. Date Apr 16 General Journal Debit Credit Record entry Clear entry View general journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet > 1 2 3 4 5 6 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date May 01 General Journal Debit Credit Record entry Clear entry View general journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 Received the Tomas payment for principal and interest on the note dated March 3. Note: Enter debits before credits. Date Jun 01 General Journal Debit Credit Record entry Clear entry View general journal 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
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