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This is the table I need to fill out. Just the general journal. Use the following information for the Exercises 18-19 below. (Algo) Skip to
This is the table I need to fill out. Just the general journal.
Use the following information for the Exercises 18-19 below. (Algo)
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Following are transactions of Danica Company.
December 13 | Accepted a $12,000, 45-day, 6% note in granting Miranda Lee a time extension on her past-due account receivable. |
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December 31 | Prepared an adjusting entry to record the accrued interest on the Lee note. |
Exercise 7-19 (Algo) Notes receivable transactions LO P4
January 27 | Received Lee's payment for principal and interest on the note dated December 13. |
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March 3 | Accepted a $6,000, 8%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. |
March 17 | Accepted a $15,000, 30-day, 10% 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.
Note: Do not round intermediate calculations. Use 360 days a year.
Those are the other information I have:
Complete this question by entering your answers in the tabs below. Use those calculated values to prepare your journal entries. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. Complete this question by entering your answers in the tabs below. Use those calculated values to prepare your journal entries. Complete this question by entering your answers in the tabs below. Complete the table to calculate the interest amounts. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amountsStep by Step Solution
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