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Use the following information for the Exercises 18-19 below. (Static) Skip to question [The following information applies to the questions displayed below.] Following are transactions

Use the following information for the Exercises 18-19 below. (Static) Skip to question [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $9,500, 45-day, 8% 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.

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