Question: exercise 712 notes receivable transaction LO C2 dec. 13 accepyed l a $14,000, 45-day, 8% note in granting Miranda Lee a time extension on her

exercise 712 notes receivable transaction LO C2
dec. 13 accepyed l a $14,000, 45-day, 8% note in granting Miranda Lee a time extension on her past-due Account receivable.
 exercise 712 notes receivable transaction LO C2 dec. 13 accepyed l
a $14,000, 45-day, 8% note in granting Miranda Lee a time extension
I just need help with this last part I can't figure out the calculation! thank you :)

Use the following information for the Exercises below. [The following information applies to the questions displayed below) Following are transactions of danica Company Dec. 13 Accepted . $14,000, 45-day, 5% note in granting Miranda Lee a time extension on her past-due account 31 Prepared an adjusting entry to record the accrued interest on the Lee note. receivable. Exercise 7-12 Notes receivable transactions LO C2 Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your 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 315 Interest Exercise 7-12 Notes receivable transactions LO C2 Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. 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 December 31 Interest Total Through Recognized Maturity December 31 5 14.000 5 14,000 8% 89 45/360 18/360 Principal Rate(%) Time Total Interest General Journal >

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!