Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Following are transactions of Danica Company. Dec. 13 Accepted a $9,500, 45-day, 8 % 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. Exercise 7-13 Notes receivable transactions LO P4 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable. Apr. 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 your 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 the table to calculate the interest amounts. Total Through Amount Accrued at Maturity December 31 Principal Rate (%) Interest Recognized January 27 Time Total interest M Lee Note Tomas Co Note: H Cheng Note General Journal First, complete the table below to calculate the interest a Total Through Maturity Principal Rate (%) Time Total interest M Lee Note Tomas Co Note: H Cheng Note General Journal First, complete the table below to calculate the interest amount Total Through Principal Rate (%) Time Total interest Maturity Journal entry worksheet < 1 23 4 5 H. Cheng dishonored his note. Note: Enter debits before credits. Date Apr 16 60 General Journal Debit Credit Record entry Clear entry View general journal M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Date Jan 27 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 6 Accepted a $5,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits before credits. Date Mar 03 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 Accepted a $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable. Note: Enter debits before credits. Date Mar 17 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date May 01 General Journal Debit Credit View general journal Record entry Clear entry 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 Jun 01 General Journal Debit Credit Record entry Clear entry View general journal