Required Information

Use the following information for the Exercises $18-19$ below. $($Static$)$

$[$The following Information applles to the questions displayed below.$]$

Following are transactions of Danica Company.

December $13$ Accepted a $$9,500,45-$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.

Exercise $7-18($Static$)$ Notes receivable transactions LO C$2$

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. Round "Total Interest" answers to nearest whole dollars. 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 ${31}^{st.}.$