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Return to question Following are transactions for Vitalo Company November 1 Accepted a $16,eee, 180-day, 9 note from Kelly white in granting = time extension
Return to question Following are transactions for Vitalo Company November 1 Accepted a $16,eee, 180-day, 9 note from Kelly white in granting = time extension on her past due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the white note. April 3e white honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round Intermediate calculations, Use 360 days a year.) Answer is complete but not entirely correct. 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 and April 30th Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st and AF Principal Rate (%) Time Total interest November Total 1 Through January 1 Through Through December Maturity 31 April 30 $ 16,000 $ 16,000 $ 16,000 6% X 6% 6% X 180/360 60/360 120/360 587 XS 160 X $ 427 x $ interest amounts General Jour Use those calculated values to prepare your journal entries. No Date Debit Credit November 01 General Journal Notes receivable-K. White Accounts receivable-k White 16.000 16,000 2 December 31 > 160 Interest receivable Interest revenue 160 3 April 30 16,587 Cash Notes receivable White Interest receivable Interest revence OO 16,000 160 427 X
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