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[ The following information applies to the questions displayed beiow. ] Following are transactions of Danica Company. Decenber 1 3 Accepted a $ 9 ,
The following information applies to the questions displayed beiow.
Following are transactions of Danica Company.
Decenber Accepted a $day, note in granting Miranda Lee a time extension on her pastdue account
receivable.
Decenber Prepared an adjusting entiry to record the accrued interest on the lee note.
January Recelved Lee's payment for principal and interest on the note dated December
Narch Accepted a $day note in granting a tine extension on the pastdue account receivable of Tonas Comp
March Accepted a $day. note in granting H Cheng a time extension on his pastdue account receivable.
April H Cheng dishonored his note.
Hay Wrote off the H Chans account agalnst the Allowance for poubtful Accounts.
June i Recelved the Tomes payment for princlpal and interest on the note dated March
Complete the table to calculate the interest amounts and use those calculated values to prepare your joumal entries.
Note: Do not round your intermediate calculations. Use days a year.
Complete this question by entering your answers in the tabs below.
M Lee Note
Tomas
Company Note
Cheng Note
General
Joumal
Complete the table to calculate the interest amounts.
Note: Round "Total interest" answers to nearest whole dollar:
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