can somebody please help me with this , thank you Following are selected transac

Question

can somebody please help me with this , thank you

Following are selected transactions of Danica Company for 2016. Dec. 13 Accepted a $9,500, 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. Complete the table to calculate the interest amounts at December 31sf and use the calculated value to prepare your journal entries. 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 Complete the table to calculate the interest amounts at December 31St Interest Total Through Recognized MaturityDecember 31 Principal Rate (%) Time Total interest 8% 45/360

Explanation / Answer

Total through maturity Interest recognized Dec 31 Principal 9500 9500 Rate(%) 8% 8% Time 45/360 18/360 Total interest 95 38 Date General Journal Debit Credit 16-Dec Notes receivable—M. Lee 9,500 Accounts receivable—M. Lee 9,500 31-Dec Interest receivable 38 Interest revenue 38

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