Required information [The following information applies to the questions displayed below.) Following are transactions of Danica Company. Dec. 13 Accepted a $21,000, 45-day, 7% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting 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 $15,000, 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $13,000, 30-day, 108 note in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note. May i Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. 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. (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 H Cheng Note General Journal Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 Principal Rate (%) Time Total interest M Lee Note Tomas Co Note Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate (%) Time Total interest M Lee Note H Cheng Note Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate (%) Time Total interest Journal entry worksheet Accepted a $15,000, 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits before credits. Date General Journal Debit Credit Mar 03 Record entry Clear entry View general journal Journal entry worksheet H. Cheng dishonored his note. Note: Enter debits before credits. Date General Journal Debit Credit Apr 16 Record entry Clear entry View general journal Journal entry worksheet Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date General Journal Debit Credit May 01 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 > Received the Tomas payment for principal and interest on the note dated March 3. Note: Enter debits before credits. Date General Journal Debit Credit Jun 01 Record entry Clear entry View general journal
