Following are transactions for Vitalo Company. November 1 Accepted a $8,000, 180-day, 8% note from Kelly...

Transcribed Image Text:

Following are transactions for Vitalo Company. November 1 Accepted a $8,000, 180-day, 8% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 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. Note: 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 31st and April 30th. November 11 Total Through Maturity Through December 31 January 1 Through April 30 Principal Rate (%) Time Total interest Interest Amounts General Journal > December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 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. Note: 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 Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet < 2 3 Accepted a $8,000, 180-day, 8 % note from Kelly White in granting a time. extension on her past-due account receivable. Note: Enter debits before credits. Following are transactions for Vitalo Company. November 1 Accepted a $8,000, 180-day, 8% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 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. Note: 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 31st and April 30th. November 11 Total Through Maturity Through December 31 January 1 Through April 30 Principal Rate (%) Time Total interest Interest Amounts General Journal > December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 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. Note: 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 Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet < 2 3 Accepted a $8,000, 180-day, 8 % note from Kelly White in granting a time. extension on her past-due account receivable. Note: Enter debits before credits.