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Part 2 of 2 Following are transactions of Danica Company Dec. 13 Accepted a $9,500, 45-day, ex note in granting Miranda Lee a tine extension
Part 2 of 2 Following are transactions of Danica Company Dec. 13 Accepted a $9,500, 45-day, ex note in granting Miranda Lee a tine extension on her past due account receivable 31 Prepared an adjusting entry to record the accrued interest on the Lee note. 0.45 points Jan. 27 Received Lee's payment for principal and interest on the note dated December 13 Mar 3 Accepted a $5,000, 105, 90 day note in granting a time extension on the past due account receivable of Tomas Company : 17 Accepted a $2,000, 30 day, 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 Print References 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.)
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