Following are selected transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8% note dated...
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Following are selected transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (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 September 17. Principal Rate (%) Total Through Maturity Time Total interest < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 Accepted a $9,500, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Note: Enter debits before credits. Date Mar 21 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 Jackson dishonored her note when it is presented for payment. Note: Enter debits before credits. Date Sept 17 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal > Following are selected transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (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 September 17. Principal Rate (%) Total Through Maturity Time Total interest < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 Accepted a $9,500, 180-day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Note: Enter debits before credits. Date Mar 21 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 Jackson dishonored her note when it is presented for payment. Note: Enter debits before credits. Date Sept 17 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal > Interest General Amounts Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet < 1 2 3 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Record entry View general journal Clear entry > < Interest Amounts General Journal >
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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