Following are transactions of The Company Dec. 13 Accepted a $29,800, 45 day, 8% note in granting M.Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journa (Do not round your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest General Amounts Journal Complete the table to calculate the interest amounts at December 314 Interest Total Through Recognized Maturity December 31 Principal Rate (5) Time Total interest Following are transactions of The Company Dec. 13 Accepted a $29,000, 45-day, Bk note in granting M.Lee a time extension on her past due account receivable. 31 Prepared an adjusting entry to record the acceed interest on the Lee note. Jan. 27 Received Lee's payment for principal and Interest on the note dated December 13 Mar. 3 Accepted a $23,800, 6%, 90-day note in granting a time extension on the past due account receivable of Tomas Company. 17 Accepted a $21,000, 30-day, 8% 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 rou intermediate calculations. Use 360 days a year) Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note Cheng Note: General Journal Complete the table to calculate the interest amounts Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 M Lee Note Tomas Co Note H Cheng 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 (%) Time Total interest 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 jo intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Notes H Cheng Note General Journal First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate(%) Time Total interest Complete this question by entering your answers in the tabs below. M Lee Note Tomas 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 Journal entry worksheet
