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Noy Accepted a $11,000, 180-day, 7% note dated November 1 from Kelly White in ranting a time extension on her past due account receivable. Dec.
Noy Accepted a $11,000, 180-day, 7% note dated November 1 from Kelly White in ranting a time extension on her past due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the white note. Apr. 30 White honored her note when presented for payment; February has 28 days for the current year. Complete the table to calculate the interest amounts at December 31 and April 30" and use those calculated values to prepare your journal entries (assume that no reversing entries are recorded). (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st and April 30th Total Through Maturity November 1 Through December 31 January 1 Through April 30 Principal Rate(%) Time Total interest to search
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