Following are selected transactions of Danica Company for 2016 Dec. 13 Accepted a $9,500, 45-day,...
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Accounting
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 31s and use the calculated value to prepare your journal entries (Do not round your intermediate calculations. Use 360 days a year.)
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