Ly Final Test ~ Lyryx Learning Inc - Google Chrome - X lifa1.lyryx.com/quiz-servlets/QuizServlet?ccid=11218 lyryx Spreadsheet Print Preferences Help Final Test Name: Savleen Kaur Date: 2021-12-13 Question 1 [10 points] Prepare journal entries to record Velor Inc.'s transactions. Round all values to the nearest cent. a. March 1, 2014: Velor Inc. Accepted a note from Jan Taylor for $5,400, 6-month, 10% dated this day granting a time extension on the past-due account. b. Determine the date that transaction (a) matures and record the entry to show the collection. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). General Journal Page GJ1 Date Account/Explanation F Debit Credit + - Question 2 [40 points] Type here to search O 2C Mostly cloudy ^ ( @ D ( () ENG 07:09 13-12-2021