9 Exercise 9-14 Dishonoring a note LO P4 Following are selected transactions for

Question

9 Exercise 9-14 Dishonoring a note LO P4 Following are selected transactions for Ridge Company poines 2s Accepted16, 0o, 180-day, nste dated Parch 21 from Tomera ackson in grantiori sesion on her past-u Sept. 17 3ackson dishonored her note-hen it is presented for Payant 1 After exhausting all legal means of cellection, Ridge Company wrote off Jackson's eccount agalnst 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 (Round your final answers to nearest whole dollor. Use 360 days a year) Hint Complete this question by entering your answers in the tabs below Interest General Journal Complete the table to calculate the interest amounts at September 17 Maturity Principal Rate (%) Time Total interest General Journal

Explanation / Answer

1.

Journal

Total Through
Maturity Principal $16300 Rate (%) 8% Time 180/360 Total interest $652

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