Required information Use the following information for the Exercises 18-19 below. (Algo) [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $28,000, 45-day, 6% 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 9-19 (Algo) Notes receivable transactions LO P4 January 27 Received Lee's payment for principal and interest on the note dated December 13. March 3 Accepted a $22,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. March 17 Accepted a $12,000, 30-day, 6% note in granting H. Cheng a time extension on his past-due account receivable. April 16 H. Cheng dishonored his note. May 1 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.) X Answer is not complete. Journal Use those calculated values to prepare your journal entries. No Date General Journal Debit Credit 1 January 27 Allowance for doubtful accounts 28,126 X Notes receivable-M. Lee 28.000 Interest revenue 126 2 March 03 22,000 Notes receivable Tomas Company Accounts receivable Tomas Company 22.000 3 March 17 12,000 Notes receivable-H. Cheng Accounts receivable-H. Cheng 12,000 April 16 12,060 Accounts receivable-H. Cheng Notes receivable-H. Cheng 12.000 00 Interest revenue 60 5 12,060 May 01 Allowance for doubtful accounts 12.060 Accounts receivable-H. Cheng 22,550 6 June 01 Cash 550 Interest revenue 22.000 Notes receivable-Tomas Company