i Required Information [The following Information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $14,000, 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your Intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Use the calculated value to prepare your journal entries. View transaction list View journal entry worksheet No 1 Date December 13 General Journal Debit Credit Accounts receivable-M. Lee 14,000 Cash

i Required Information [The following Information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $14,000, 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. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your Intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Use the calculated value to prepare your journal entries. View transaction list View journal entry worksheet No 1 Date December 13 General Journal Debit Credit Accounts receivable-M. Lee 14,000 Cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please only answer parts b and c. These were left out of the previous question. Thanks
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Sylvestor Systems borrows $174,000 cash on May 15 by signing a 90-day, 6%, $174,000 note. 1. On what date does this note mature? 2-a. Prepare the entry to record issuance of the note. 2-b. First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your entry to record payment of the note at maturity. Complete this question by entering your answers in the tabs below. Required 1 Required 2A View transaction list Use those calculated values to prepare your entry to record payment of the note at maturity. Note: Use 360 days a year. Round final answers to the nearest whole dollar. Required 2B Required 2B Interest at Maturity Journal entry worksheet A General Journal Record the payment of the note at maturity. Note: Enter debits before credits. Date Maturity General Journal Debit Credit
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Keesha Co. borrows $100,000 cash on November 1 of the current year by signing a 150-day, 10%, $100,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 On what date does this note mature? (Assume that February has 28 days.) On what date does this note mature?
Following are transactions for Vitalo Company. 1 Accepted a $3,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due account receivable. Nov. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note. Apr. 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31s and April 30" and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest General Journal Amounts Complete the table to calculate the interest amounts at December 31st and April 30th. November 1 January 1 Total Through Through Through Maturity December 31 April 30 Principal Rate (%) Time Total interest
Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $14,000, 45-day, 4% 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. January 27 Received Lee's payment for principal and interest on the note dated December 13. March 3 Accepted a $8,000, 10%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company. March 17 Accepted a $18,000, 30-day, 8% 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…
Both parts pls!
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On August 2, 2013, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable. 1) commute the maturity date for this note. 2) prepare jun’s journal entry for august 2.
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Following are transactions for Ridge Company. March 21 Accepted a $11,900, 180-day, 7 % 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, 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. Note: Do not round Intermediate calculations. Round your final answers to nearest whole dollar. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at September 17. Total Through Principal Maturity Rate (%) 7% Time 180/360 Total interest 4 General Journal >