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Use the following information for the Exercises 1819 below. (Algo) [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $30,000,45-day, 60 note in granting Miranda lee a time extension on her past-due account recelvable. December 31 prepared an adjusting entry to record the accrued interest on the tee note. Exercise 7-19 (Algo) Notes receivable transactions LO P4 January 27 Received Lee's paymont for prineipal and interest on the note dated December 13. Mareh 3 Accepted a $24,000, bs, 90 -day note in granting a time extension on the past-due account receivable of Io Conpany. March 17 Aecepted a $15,000, 30-day, 6$ note in granting H. Cheng a tine extension on his past-due account receiva April 16H. Cheng dithonored his note. May 1 frote oft the H. Cheng account against the A1lowance for Doubtful Accounts. June 1 Meceived the Tomas payment for princlpal and interest on the pote dated Mareh 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. January 27 Received bee' in payment for principal and Interest on the note dated December 13. Mareh 3 Nocepted a $24,000, 8t, 90 -day note in granting a time extension on the past-due acoount receivable of Joans Conpany. Mareh 17 Nccepted a $15,000,30-day, 67 note in granting H. Cheng a time extenaion on his past-due acceunt receivable. April 16 H. Cheng dishonornd hts note. Moy 1 Wrote off the H. Cheag account against the Allowance for Doubtful Mccounts. 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. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering yobr answers in the tabs below. Complete the table to calculate the interest amounts. January 27 Received Lee' payment-for principal and interest on the note dated Decerber 13. March 3 Aecepted a $24,000,81,90-day note in granting a time extension on the past-die account recelvabie of Fo Cotpparky Narch 17 Accepted a $15,000,30-day, 6k note in granting H. Cheng a time extens Lon on his past-due account receiva April 16H. Cheng disbonored his note. Kay 1 Wrote off the H. Cheng account afainst the Allowance for Doubtful Accounts. June 1 Foceived the Tooias payment for principal and interest on the note dated Mareh 3 . Complete the table to calculate the interest amounts and use those caiculated values to prepare your journal entries. Note: Do not round intermediate calculations, Use 360 days a year. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. Jangary 27 Iecelved thee's payment for principal and interest on the note dated beceebor 13 . rareh 3 hecepted a $24,000,81,90-day note in granting a time extennion on the past-due abcount receivable of Toaan company. Marah 17 Accepted a $15,000, Jo-day, 6 t note in granting if. cheng a time extension on hi= past-due account recetvable. April 16 1. Cheng alstonored his note. Yay 1 Wrote off the 15 . Cheng acoount aqalnst the Allowance for Doubeful Acceunts. gune 1 received the Tonas payment for prineipal and interest on the note dated Mareb 1. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries: Note: Do not round intermediate colculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. Use those calculated values to prepare your journal entries. 1 Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. 2. Accepted a $24,000,8%,90-day note in granting a time extension on the past-due account receivable of Tomas Company. 3. Accepted a $15,000,30-day, 6% note in granting H. Cheng a time extension on his past-due account recelvable. 4 H. Cheng dishonored his note. 2 Accepted a $24,000,8%,90-day note in granting a time extension on the past-due account recelvable of Tomas Company. 3 Accepted a $15,000,30-day, 6% note in granting H2. Cheng a time extension on his past-due account recelvable. 4 H. Cheng dishonored his note. 5. Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. 6 Recelved the Tomas payment for principal and interest on the note dated March 3. Note : O= journal entry has been entered
