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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 $20,000,45-day, 48 note in

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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 $20,000,45-day, 48 note in granting Miranda Lee a time extenaion on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the tee note. January 27 Received Lee's payment for prineipal and interest on the note dated December 13. Narch 3 Accepted a $14,000,88,90day note in granting a time extension on the past-due account receivable of Tomas Conpany . March 17 Accepted a $15,000,30-day, Bs note in granting H. Cheng a time extension on his past-due account receivable. April 16 H. Cheng dishonored hia note. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Aceounts. 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

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