Question

Prepare journal entries for the following selected transactions of Danica Company for 2014.
2014
Dec. 13 Accepted a $9,500, 45-day, 8% 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.


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  • CreatedApril 23, 2015
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