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Required Information [The following information applies to the questions displayed below.) Following are transactions of Danica Company. Dec. 13 Accepted a $22,000, 45-day, 61 noto

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Required Information [The following information applies to the questions displayed below.) Following are transactions of Danica Company. Dec. 13 Accepted a $22,000, 45-day, 61 noto in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjubting entry to record the accrued interest on the Lee note. Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar 3 Accepted a $16,000, 69, 90-day note in granting a time extension on the past-duo account receivable of Tomas Company. 17 Accepted a $18,000, 30-day, 81 note in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 8. Cheng dishonored his note. May 1 Wrote of the #1. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Totas payment for principal and interent on the note dated March Complete the table to calculate the Interest amounts and use those calculated values to prepare your journal entries. (Do not round Intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note M Cheng Note General Journal Use those calculated values to prepare your journal entries View transaction list Journal entry worksheet Accepted a $16,000, 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits before credits. General Journal Debit Credit Date Mar 03 Record entry Clear entry View general Journal Prev Journal entry worksheet

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