10 Part 2 of 2 Required Information Use the following information for the Exercises 18-19 below. (Static) (The following

[answerhappygod]

10 Part 2 Of 2 Required Information Use The Following Information For The Exercises 18 19 Below Static The Following 1 (46.25 KiB) Viewed 48 times

10 Part 2 of 2 Required Information Use the following information for the Exercises 18-19 below. (Static) (The following information applies to the questions displayed below.) Following are transactions of Danica Company. 0.9 points December 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Exercise 9-19 (Static) Notes receivable transactions LO P4 January 27 Received Lee's payment for principal and interest on the note dated December 13. March 3 Accepted a $5,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. March 17 Accepted a $2,000, 30-day, 9% note in granting H.Cheng a time extension on his past-due account receivable. April 16 H. Cheng dishonored his note. 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 your intermediate calculations. Use 360 days a year.) Answer is not complete.

10 June 1 Receiveu Le lumas VavmenL Tur ricavat all IT LereL UI LE TULE UdLeu Marlil . Required information your intermediate calculations. Use sou aays a year.) Part 2 of 2 Answer is not complete. Complete this question by entering your answers in the tabs below. 0.9 points M Lee Note Tomas General H Cheng Note Company Note Journal Complete the table to calculate the interest amounts. (Round "Total interest" answers to nearest whole dollar.) Total Amount Interest Through Accrued at Maturity December Recognized 31 January 27 Principal s 9.500 $ 9.500 $ 9.500 Rate(%) 896 896 8% Time 45/360 18/360 ✓27/360 Total interest s 95 $ 38 s 57 KM Lee Note Tomas Company Note >

-er- 10 Required information Complete the table to calculate the Interest amounts and use those calculated values to prepare your journal entries. (Do not round your Intermediate calculations. Use 360 days a year.) Part 2 of 2 Answer is not complete. 0.9 points Complete this question by entering your answers in the tabs below. Tomas M Lee Note General H Cheng Note Company Note Journal First, complete the table below to calculate the interest amounts. (Round "Total interest" answer to nearest whole dollar.) Total Through Maturity s 5.000 10% Principal Rate(%) Time Total interest 90/360 $ 125 < M Lee Note H Cheng Note >

-er- 10 Required information Complete the table to calculate the Interest amounts and use those calculated values to prepare your journal entries. (Do not round your Intermediate calculations. Use 360 days a year.) Part 2 of 2 Answer is not complete. 0.9 points Complete this question by entering your answers in the tabs below. Tomas General M Lee Note Company Note H Cheng Note Journal First, complete the table below to calculate the interest amounts. (Round "Total interest" answer to nearest whole dollar.) Total Through Maturity $ 2,000 Principal Rate(%) Time 996 30/360 Total interest $ 15 < Tomas Company Note General Journal >

WEESTIS 10 Required information View transaction list Part 2 of 2 Journal entry worksheet 2 3 1 5 0.9 points Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit January 27 Record entry Clear entry View general journal < H Cheng Note General Journal

10 Required information View transaction list Part 2 of 2 Journal entry worksheet < 2 5 3 6 > 0.9 points Accepted a $5,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit March 03 Record entry Clear entry View general journal

w JV IEETILINE 10 Required information View transaction list Part 2 of 2 Journal entry worksheet < 1 2 3 5 0.9 points Accepted a $2,000, 30-day, 9% note in granting H. Cheng a time extension on his past-due account receivable. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit March 17 Record entry Clear entry View general journal

10 Required information View transaction list art 2 of 2 Journal entry worksheet < 1 2 3 9 4 5 6 pints H. Cheng dishonored his note. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit April 16 Record entry Clear entry View general journal < H Cheng Note General Journal

10 Required information View transaction list Part 2 of 2 Journal entry worksheet < 1 2 3 5 0.9 points Wrote off the H. Cheng account against the Allowance for Doubtful Accounts. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit May 01 Record entry Clear entry View general journal

10 Required information View transaction list Part 2 of 2 Journal entry worksheet < 2 3 5 6 9 oints Received the Tomas payment for principal and interest on the note dated March 3. eBook Hint Note: Enter debits before credits. Print References Date General Journal Debit Credit June 01 Record entry Clear entry View general journal