Question: Exercise 7-14 Dishonoring a note LO P4 Following are selected transactions for Ridge Company Mar. 21 Accepted a $15,600, 180-day, 121 note dated March 21
Exercise 7-14 Dishonoring a note LO P4 Following are selected transactions for Ridge Company Mar. 21 Accepted a $15,600, 180-day, 121 note dated March 21 trom Tamara Jackson in granting a time extension past-due account receivable. sept. 17 Jackson dishonored her note when it is presented for payment Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's a ook ccount against the Allo lint for Doubtful Accounts Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries (Round your final answers to nearest whole dollar. Use 360 days a year.) rint Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Use the calculated value to prepare your journal entries. View transaction list Journal entry worksheet Accepted a $15,600, 180-day, 12% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable
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