Exercise 9-12 Notes receivable transactions LO P4 Following are selected transactions of Danica Company for 2016 and 2017. 2016 Dec. 13 Accepted a $20,000, 45-day, 64 note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note. 2017 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13. Mar. 3 Accepted a $14,680, 8%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. 17 Accepted a $12,000, 30-day, 14 note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. Apr. 16 H. Cheng dishonored his note when presented for payment. 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. (Do not round Intermediate calculations. Use 360 days a year.) 17 Accepted a $12,000, 30-day, 10% note dated March 17 in granting H. account receivable. Apr. 16 H. Cheng dishonored his note when presented for payment. May 1 Wrote off the H. Cheng account against the Allowance for Doubtful June 1 Received the Tomas payment for princibal and interest on the note Complete the table to calculate the interest amounts and use those calculated value intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. M Lee Note Tomas Co Note H Cheng Note General Journal Complete the table to calculate the interest amounts. Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27 Principal Rate(%) Time Total interest M Lee Note Tomas Co Note > MacBook Air 80 000 F2 F3 F4 FS F6 F7 # $ % og 3 35 4 UI 5 6 7 * 8 M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 23 4 5 6 Accepted a $14,000, 8%, 90-day note dated March 3 in granting a time extension on the past-due account receivable of Tomas Company. Note: Enter debits before credits General Journal Date Mar 03, 2017 Debit Credit Record entry Clear entry View general journal MacBook Air 000 000 80 F3 F4 F5 F6 F7 # $ & 3 % 5 3 4 Ui IC 7 * 8 C M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 2 4 MD 5 6 Accepted a $12,000, 30-day, 10% note dated March 17 in granting H. Cheng a time extension on his past-due account receivable. Note: Enter debits before credits Date General Journal Debit Credit Mar 17, 2017 Record entry Clear entry View general journal MacBook Air 80 F3 F2 F4 F5 F7 # $ - % & 3 4 UI 5 NI 6 sc 7 3 8 M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet MacBook Air 80 F3 F2 F4 F5 F6 F7 # $ % & 3 to 4 JI 5 IN 6 IC 7 B 3 M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 6 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. Note: Enter debits before credits General Journal Date May 01, 2017 Debit Credit Record entry Clear entry View general journal MacBook Air DOO 80 F3 F2 F4 F5 F6 F7 $ % & I & 4 UI 5 6 f IC oc M Lee Note Tomas Co Note H Cheng Note General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 6 Received the Tomas payment for principal and interest on the note dated March 3. Note: Enter debits before credits. General Journal Date Jun 01, 2017 Debit Credit Record entry Clear entry View general journal MacBook Air 000 80 F3 F4 F5 F6 F7 # $ % & 1 3 & 4 UI 5 INC 6 IC 7 * 8. C