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, ex 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, ace, 18%, 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 HCheng Note General Journal Complete the table to calculate the Interest amounts. Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 + Principal Rate (96) Time Total interest Lee Note Tomas Co Note > 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 17 Accepted a $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account rec 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 your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. M Lee Note Tomis.co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts Total Through Maturity Principal Rate(%) Time Total interest Prev 1 of 33 . No 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, 9x note in granting H. Cheng a time extension on his past-due account receivable. Apr 16 H. Cheng dishonored his note May 1 wrote of the H. Chong 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. Tomas Co M Lee Note General HCheng Note Note Journal First, complete the table below to calculate the interest amounts Total Through Maturity Principal Rate(%) Time Total interest (Tomas Co Note General Journal > 1 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. 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, 9x note in granting Cheng a time extension on his past due account receivable Apr 16 H Cheng dishonored his note May 1 Wrote ort the # 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.) 5430 Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note HCheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 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 General Journal Debit Credit Date Jan 27 Record entry Clear entry View general journal Proy 1 of 33 NOY
