Refer to the information in Exercise 9-18 and prepare the journal entries for the following year for Danica Company.

Data From Exercise 9-18

Prepare journal entries for the following 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.

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. Accepted a $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable.

Apr 16. Cheng dishonored his note.

May 1. Wrote off the Cheng account against the Allowance for Doubtful Accounts.

June 1. Received the Tomas payment for principal and interest on the note dated March 3.