Following are transactions for Ridge Company. March 21 Accepted a $11,900, 180-day, 7 % note from Tamara Jackson in granting a time extension on her past-due account receivable. September 17 Jackson dishonored her note. December 31 After trying several times to collect, Ridge Company wrote off Jackson's account against 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. Note: Do not round Intermediate calculations. Round your final answers to nearest whole dollar. 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 September 17. Total Through Principal Maturity Rate (%) 7% Time 180/360 Total interest 4 General Journal >

Following are transactions for Ridge Company. March 21 Accepted a $11,900, 180-day, 7 % note from Tamara Jackson in granting a time extension on her past-due account receivable. September 17 Jackson dishonored her note. December 31 After trying several times to collect, Ridge Company wrote off Jackson's account against 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. Note: Do not round Intermediate calculations. Round your final answers to nearest whole dollar. 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 September 17. Total Through Principal Maturity Rate (%) 7% Time 180/360 Total interest 4 General Journal >

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 5P

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Following are transactions for Ridge Company. March 21 Accepted a $14,600, 180-day, 9% note from Tamara Jackson in granting a time extension on her past-due account receivable. September 17 Jackson dishonored her note. December 31 After trying several times to collect, Ridge Company wrote off Jackson's account against 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. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar. 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 September 17. Total Through Principal Rate (%) Time Total interest Maturity
Following are transactions for Vitalo Company. November 1 Accepted a $5,000, 180-day, 5% note from Kelly White in granting a tine extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note.. April 30 white honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your Journal entries. Note: Do not round intermediate calculations. Use 360 days a year.
Following are transactions for Vitalo Company. November 1 Accepted a $7,000, 180-day, 7% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 365 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 and April 30th.
Following are transactions for Vitalo Company. November 1 Accepted a $11,000, 180-day, 7 % note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. General Journal Complete the table to calculate the interest amounts at December 31st and April 30th November 1 Through December 31 Interest Amounts Principal Rate (%) Time Total interest Total Through Maturity January 1 Through April 30
Following are transactions for Vitalo Company. November 1 Accepted a $10,000, 180-day, 7% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. General Journal Interest Amounts Complete the table to calculate the interest amounts at December 31st and April 30th Total Through Maturity November 1 Through December 31 January 1 Through April 30 Principal Rate (%) Time Total interest Amounts General Journal > ere to search 68°F 40 4. ort se delete
Following are transactions for Veilstone Jewelers. November 1 Accepted a $15,000, 180-day, 5% note from Vitalo in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 Vitalo honored her note when presented for payment. Calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 Accepted a $15,000, 180-day, 5% note from Vitalo in granting a time extension on her past-due account receivable.
Following are transactions for Vitalo Company. November 1 Accepted a $5,000, 180-day, 7% note from Kelly White in granting a time extension on her past-due account. receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round 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 and April 30th. November 1 Through December 31 January 1 Through April 30 Principal Rate (%) Time Total interest Total Through Maturity
Prepare journal entries to record the following transactions of Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable. Sep. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson’s account against the Allowance for Doubtful Accounts.
Following are transactions of Danica Company 13 Accepted a $9,500, 45-day, 81 note in granting Miranda Lee a extension on her past-due account receivable. Prepared an adjusting entry to record accrued interest the Lee note. Complete the table to calculate the Interest amounts at Dexember 31^ \st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)
Following are transactions for Vitalo Company. 1 Accepted a $12,000, 180-day, 6% note from Kelly White in granting a time extension on her past-due account receivable. Nov. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note. Apr. 30 White honored her note when presented for payment. th and April 30 and use those calculated values to prepare your Complete the table to calculate the interest amounts at December 31st journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest General Amounts Journal Complete the table to calculate the interest amounts at December 31st and April 30th. November 1 January 1 Total Through Through Through Maturity December 31 April 30 Principal Rate (%) Time Total interest
On December 1, Cheyenne Furniture Corporation borrowed $8,800 on a 90-day, 15% note. Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
i Required Information [The following Information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $14,000, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. December 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. Note: 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 Use the calculated value to prepare your journal entries. View transaction list View journal entry worksheet No 1 Date December 13 General Journal Debit Credit Accounts receivable-M. Lee 14,000 Cash