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Required information [The following information applies to the questions displayed below] Following are transactions of Danica Company. Decenter 13 Aceepted a 59,500,45-dny, B1 note in
Required information [The following information applies to the questions displayed below] Following are transactions of Danica Company. Decenter 13 Aceepted a 59,500,45-dny, B1 note in granting Mirandn tee a tine extension on her past-due Decenber 31 Prepared an sdjuating entry to record the acerued intereat on the bee note. Jonuary 27. Received tee's payent for prinelpal and interest on the note dated Deenber 13. Mareh 17 Mocepted a 12,000,30day,01 note in granting Hicheng s time oxtenaion gh his paat-due secount receivabie. Apei1. 16 H. Chieng dinhonored hin note. May 1 Mrote off the N. Cheng account againat the Allowance for Doubtful Account:. frunt 1 Meceived the Foman paymat for prineipal and interest of the note dated Mareh 3. 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.) Journal entry worksheet 456 Recelved Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Journal entry worksheet Accepted a $5,000,10%,90-day note in granting a time extenfion on the past-due account receivable of Tomas Company. Note: Enter debits before credits. Journal entry worksheet Accepted a $2,000,30-day, 9% note in granting H. Cheng a time extension on his past-due account recelvable. Note: Enter debits before credits. H. Cheng dishonored his note. Note: Enter debits before credits. Journal entry worksheet Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Journal entry worksheet 12 Received the Tomas payment for principal and interest on the note dated March 3. Note: Enter debits before credits
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