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Following are transactions of Danica Company.

December $13$ Accepted a $$10,000,45-$day, $2\%$ note in granting Miranda Lee a time extension on a past$-$due

account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

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 this question by entering your answers in the tabs below.

Interest

General

Amounts

Journal

Complete the table to calculate the interest amounts at December ${31}^{st}.$Required information

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

Following are transactions of Danica Company.

December $13$ Accepted a $$10,000,45-$day, $2\%$ note in granting Miranda Lee a time extension on a past$-$due

account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

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 this question by entering your answers in the tabs below.

Interest

General

Amounts

Journal

Complete the table to calculate the interest amounts at December ${31}^{st}.$Required information

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

Following are transactions of Danica Company.

December $13$ Accepted a $$10,000,45-$day, $2\%$ note in granting Miranda Lee a time extension on a past$-$due

account receivable.

December $31$ Prepared an adjusting entry to record the accrued interest on the Lee note.

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 this question by entering your answers in the tabs below.

Interest

General

Amounts

Journal

Complete the table to calculate the interest amounts at December ${31}^{st}.$

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