Following are transactions of Danica Company. Dec. 13 Accepted a $24,000, 45-day, 9% 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)
General Journal:
Record acceptance of a $24,000, 45-day, 9% note in granting Miranda Lee a time extension on her past-due account receivable.
Prepare an adjusting entry to record the accrued interest on the Lee note.
Interest amounts
Following are transactions of Danica Company. Dec. 13 Accepted a$24,000, 45-day, 9% note in granting...
Following are transactions of Danica Company. Dec. 13 Accepted a $27,000, 45-day, 7% 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries.
Following are selected transactions of Danica Company for 2016. Dec. 13 Accepted a $17,000, 45-day, 9% 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)
ollowing are selected transactions of Danica Company for 2017. Dec. 13 Accepted a $14,000, 45-day, 9% 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)
Following are selected transactions of Danica Company for 2016. Dec. 13 Accepted a $18,ø00, 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. Complete the table to calculate the interest amounts at December 31S and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.) Complete this...
Chec Exercise 9-11 Notes receivable transactions LO C2 Following are selected transactions of Danica Company for 2016 Dec. 13 Accepted a $17,000, 45-day, 104 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries (Do not round your intermediate...
UHURU CIELOUSOLUUTIS UI UOMO CUIDally Dec. 13 Accepted a $28,090, 45-day, 10% 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal en (Do not round your intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the...
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 Exercise 9-13 Notes receivable transactions LO P4 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...
Following are transactions of Danica Company. Dec. 13 Accepted a $29,000, 45-day, 10% 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. Exercise 7-13 Notes receivable transactions LO P4 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $23,000, 6%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a...
Required information The following information applies to the questions displayed below,.] Following are transactions of Danica Company. Dec. 13 Accepted a $18.000, 45-day, 6t 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries (Do not round your intermediate calculations. Use 360...
Following are selected transactions of Danica Company for 2017 and 2018 2017 Dec. 13 Accepted a $9,500, 45-day, 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 tee note. 2018 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. Accepted a $5,000, 105, 90-day note dated March 3 in granting a time extension...