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PLEASE HELP ASAP Required information [The foliowing information applies to the questions displayed below] Following are transactions of Danica Company. Decesber 11 Accepted a 520,000,45-day,
PLEASE HELP ASAP
Required information [The foliowing information applies to the questions displayed below] Following are transactions of Danica Company. Decesber 11 Accepted a 520,000,45-day, 101 note in granting miranda Lee a time extenaion on her past-due acceunt receivable. Decesper 31 propared an adjusting entry to reoord the aocrued interest on the Lee note. Complete the table to calculate the imerest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Complete the table to calculate the interest amounts at Deiember 31 th, Journal entry worksheet Record acceptance of a $20,000,45-dar, 10% note in granting Miranda Lee a time extension on her past-due account receivabse. Niskf Enter detits before erecti: Journal entry worksheet Prepare an adjusting entry to record the accrued interest on the Lee note. Note: Finter debis before crecits Step by Step Solution
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