Question: EVERYTHING IS ONE PROBLEM, PLEASE ORGANIZE Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13

EVERYTHING IS ONE PROBLEM, PLEASE ORGANIZEEVERYTHING IS ONE PROBLEM, PLEASE ORGANIZE Required information [The following information appliesto the questions displayed below.] Following are transactions of Danica Company. December13 Accepted a $30,000,45 day, 6% note in granting Miranda Lee atime extension on her past-due account receivable. December 31 Prepared an adjusting

Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $30,000,45 day, 6% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. January 27 Received Lee's payment for principal and interest on the note dated December 13. March 3 Accepted a $24,000,8%,90-day note in granting a time extension on the past-due account receivable of Tomas Company March 17 Accepted a $15,000,30-day, 10% note in granting H. Cheng a time extension on his past-due account receivable. April 16H. Cheng dishonored his note. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. June 1 Received the Tomas payment for principal and interest on the note dated March 3. Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. Vote: Do not round intermediate calculations. Use 360 days a year. Journal entry worksheet Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Journal entry worksheet Accepted a $15,000,30-day, 10% note in granting H. Cheng a time extension on his past-due account receivable. Note: Enter debits before credits. Journal entry worksheet

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