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! Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. Dec. 13 Accepted a $9,500, 45-day, 8% note 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. Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $5,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $2,000, 30-day, 9% 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 round your intermediate calculations. Use 360 days a year.) Total Through Maturity Amount Accrued at December 31 $ 9,500 Interest Recognized January 27 $ 9,500 $ 9,500 Principal Rate (%) 8% 8% 8% Time 45/360 18/360 27/360 Total interest $ 95 $ 38 $ 57 M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. (Round "Total interest" answers to nearest whole dollars.) Total Through Maturity $ 5,000 Principal Rate (%) 10% Time 90/360 Total interest $ 125 M Lee Note Tomas Co Note H Cheng Note General Journal First, complete the table below to calculate the interest amounts. (Round "Total interest" answers to nearest whole dollars.) Total Through Maturity $ 5,000 Principal Rate (%) Time 10% 90/360 Total interest $ 125 x M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Round final answers to nearest whole dollars.) No Date General Journal Debit Credit 1 Jan 27 Cash 9,610 X Interest revenue 72 x Interest receivable 38 Notes receivableM. Lee 9,500 2 Mar 03 Notes receivableTomas Co 5,000 Accounts receivableTomas Co 5,000

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