flow/connect.html work Help Save& Exit S Dec. 13 Accepted a $26,000, 45-day, 9%

Question

flow/connect.html work Help Save& Exit S Dec. 13 Accepted a $26,000, 45-day, 9% note dated December 13 in granting Miranda lee a tine 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 31st 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 ournal Complete the table to calculate the interest amounts at December 31t Total Through Recognized Rate (%) Di

Explanation / Answer

Complete table :

Adjusting entry :

Total through maturity Interest recognized dec 31 Principal 26000 26000 Rate (%) 9% 9% Time 45 days 18 Days Total interest 292.50 117

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