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Following are transactions of Danica Company.

December $13$ Accepted a $$14,000,45-$day, $8\%$ note in granting Miranda Lee a time extension on her past$-$due account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

Complete the table to calculate the interest amounts at December ${31}^{st}$ and use the calculated value to prepare your journal entrles. Note: Do not round your Intermedlate calculations. Use $360$ days a year.

Complete this question by entering your answers in the tabs below.

Interest

Amounts

General

Journal

Use the calculated value to prepare your journal entries.

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