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In: Accountingollowing are selected transactions of Danica Company for 2016and 2017. 2016 Dec. 13 Accepted a...ollowing are selected transactions of Danica Company for 2016and 2017. 2016 Dec. 13 Accepted a $26,000, 45-day, 6% note datedDecember 13 in granting Miranda Lee a time extension on herpast-due account receivable. 31 Prepared an adjusting entry torecord the accrued interest on the Lee note. 2017 Jan. 27 ReceivedLee's payment for principal and interest on the note dated December13. Mar. 3 Accepted a $20,000, 8%, 90-day note dated March 3 ingranting a time extension on the past-due account receivable ofTomas Company. 17 Accepted a $18,000, 30-day, 8% note dated March17 in granting H. Cheng a time extension on his past-due accountreceivable. Apr. 16 H. Cheng dishonored his note when presented forpayment. May 1 Wrote off the H. Cheng account against the Allowancefor Doubtful Accounts. June 1 Received the Tomas payment forprincipal and interest on the note dated March 3. Complete thetable to calculate the interest amounts and use those calculatedvalues to prepare your journal entries. (Do not round intermediatecalculations. Use 360 days a year.)