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Prepare journal entries for the following transaction of Danica Company. Dec. 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension

Prepare journal entries for the following transaction 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 recievable.

31 Prepared an adgusting entry to record the accrued interest on the Lee note

Complete journal entry of the note on the maturity date

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