Question

Check my work Following are transactions for Vitalo Company. Nov. 1 Accepted a $9,000, 180-day, 98 note from Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the white note. Apr. 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th 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. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31" and April 30th Total Through Maturity November 11 January 1 Through Through December 31 April 30 Principal Rate(%) Time Total interest General Journal >

use those calculated values to prepare journal entries with second photo please

Answer 1

1) Schedule

	Total through maturity	November 1 through December 31	January 1 through April 30
Principal	9000	9000	9000
Rate	9%	9%	9%
Time	180/360	60/360	120/360
Interest	405	135	270

Journal entry

Date	account and explanation	Debit	Credit
Nov 1	Notes receivable	9000
	Account receivable		9000
Dec 31	Interest receivable	135
	Interest revenue		135
Apr 30	Cash	9405
	Notes receivable		9000
	Interest receivable		135
	Interest revenue		270