Following are selected transactions of Danica Company for 2016 and 2017 2016 Dec. 13 Accepted...
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Following are selected transactions of Danica Company for 2016 and 2017 2016 Dec. 13 Accepted a $22,000, 45-day, 10% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable 31 Prepared an adjusting entry to record the accrued interest on the Lee note 2017 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $16,000, 10%, 90-day note dated March 3 in granting a time extension on the past-due account receivable f Tomas Campany- 17 Accepted a $14,000, 30-day, 6% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note when presented for payment. Hay 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 harch 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below M Lee Note Tomas Co Note Co H Cheng Note Journal Complete the table to calculate the interest amounts. Amount Total Through Accrued at Recognized Interest December 31 January 27 Principal Rate (%) Time Total interest Tomas Co E M Lee NoteNote Genera Journal H Cheng Note First, complete the table below to calculate the interest amounts. Total Through Maturity Principal Rate (%) Time Total interest M Lee Note H Cheng Note> Complete this question by entering your answers in the tabs below M Lee Note First, complete the table below to calculate the interest amount:s Tomas Co H Cheng Note Journal General Total Through Maturity Principal Rate (%) Time Total interest Tomas Co Note General Journal>
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