Exercise 9-13 Notes receivable transactions LO C2

Following are selected transactions Dulcinea Company for 2012.

Dec.	13	Accepted a $13,000, 45-day, 8% 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.

First, complete the table below to calculate the interest amounts at December 31^st. (Do not round your intermediate calculations. Use 360 days a year.)

Interest Total through maturity recognized December 31 Principal Rate (%) Time Total interest