Question: Exercise 7-21 (Static) Dishonoring a note LO P4 Following are transactions for Ridge Company. March 21 Accepted a 59,500, 180-day, 84 note fron Tamara Jackson



Exercise 7-21 (Static) Dishonoring a note LO P4 Following are transactions for Ridge Company. March 21 Accepted a 59,500, 180-day, 84 note fron Tamara Jackson in granting a time extension on her past-due account receivable. September 17 Jackson dishonored her note. Decenber 31 After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. 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. Complete the table to calculate the interest amounts at September 17. Following are transactions for Ridge Company. March 21 Accepted a 59,580 , 180-day, B* note from Tamara Jackson in granting a time extension on her past-due account receivable. September 17 Jackson dishonored her note. December 31 After trying several times to collect, Aidge Conpany wrote oft Jackson's account against the Allowance for Doubtful Accounts. 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. Use the calculated value to prepare your journal entries. Journal entry worksheet Accepted a $9,500,180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable. Note: Enter debits befare credits. Complete this question by entering your answers in the tabs below. Use the calculated value to prepare your journal entries. Journal entry worksheet Note: Enter debits before credits. Use the calculated value to prepare your journal entries. Journal entry worksheet After trying several tilies to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Note: Enter debits before credits
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