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Required information

$[$The following information applies to the questions displayed below.$]$

Following are transactions of Danica Company.

December $13$ Accepted a $$12,000,45-$day, $6\%$ note in granting Miranda Lee a time extension on her past$-$due account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

Complete the table to calculate the interest amounts at December ${31}^{st}$ 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.

$\backslash$table$[[\backslash$table$[[\backslash$table$[[$Interef$$t$],[$Amounts$]],\backslash$table$[[$General$],[$Journal$]]]],,],[$Complete the table to calculate the interest am$,,],[,\backslash$table$[[$Total Through$],[$Maturity$]],\backslash$table$[[$Interest$],[$Recognized$],[$December $31]]],[$Principal$,,],[$Rate $(\%),,]$

Required information

$[$The following information applies to the questions displayed below.$]$

Following are transactions of Danica Company.

December $13$ Accepted a $$12,000,45-$day, $6\%$ note in granting Miranda Lee a time extension on her past$-$due account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

Complete the table to calculate the interest amounts at December ${31}^{st}$ 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.

Interest

General

Amounts

Journal

Complete the table to calculate the interest amounts at December ${31}^{st}.$

$\backslash$table$[[,\backslash$table$[[$Total Through$],[$Maturity$]],\backslash$table$[[$Interest$],[$Recognized$],[$December $31]]],[$Principal$,,],[$Rate $(\%),,],[$Time$,,],[$Total interest,,$]]$

Journal entry worksheet

$1$

$2$

Record acceptance of a $$12,000,45-$day, $6\%$ note in granting Miranda Lee a time extension on her past$-$due account receivable.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $13,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Prev

Prepare an adjusting entry to record the accrued interest on the Lee note.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Prev

of $33,[$Time$,,],[$Total interest,,$]]$