Question: Exercise 7-14 Dishonoring a note LO P4 Following are selected transactions for Ridge Company Mar. 21 Accepted a $9,500, 180-day, 88 note dated March 21
Exercise 7-14 Dishonoring a note LO P4 Following are selected transactions for Ridge Company Mar. 21 Accepted a $9,500, 180-day, 88 note dated March 21 from Tamara Jackson in granting a time extension on her Sept. 17 Jackson dishonored her note when it is presented for payment. past-due account receivable. all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance unts Dec. 31 After exhau for Doubtful 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. InterestJournal Amounts General Complete the table to calculate the interest amounts at September 17. Total Through Maturity Principal Rate (%) Time Total interest General Journal >
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