Use the following information for the Exercises 18-19 below. (Algo)

Skip to question

[The following information applies to the questions displayed below.]

Following are transactions of Danica Company.

December 13	Accepted a $28,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable.
December 31	Prepared an adjusting entry to record the accrued interest on the Lee note.

Exercise 9-18 (Algo) Notes receivable transactions LO C2

Complete the table to calculate the interest amounts at December 31^st and use the calculated value to prepare your journal entries.

Note: Do not round your intermediate calculations. Use 360 days a year.

Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries Note: Do not round your intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Complete the table to calculate the interest amounts at December 31st. Journal entry worksheet Record acceptance of a $28,000,45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable. Note: Enter debits before credits. Journal entry worksheet Prepare an adjusting entry to record the accrued interest on the Lee note. Note: Enter debits before credits