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Required information [The following information applies to the questions displayed below.) Following are transactions of The Company. Dec. 13 Accepted a $16,000, 45-day, 88 note

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Required information [The following information applies to the questions displayed below.) Following are transactions of The Company. Dec. 13 Accepted a $16,000, 45-day, 88 note in granting M.Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31. Interest Total Through Recognized Maturity December 31 Principal Rate (%) Time Total interest General Journal> Interest Amounts Next > View transaction list Journal entry worksheet 2 Record acceptance of a $16,000, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. Note: Enter debits before credits. Date General Journal Debit Credit Dec 13 Clear entry View general journal Record entry General Journal Interest Amounts View tialisaction lSt Journal entry worksheet Prepare an adjusting entry to record the accrued interest on the Lee note. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 View general journal Record entry Clear entry General Journal Interest Amounts

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