ovember 1 Accepted a $5,000, 180-day, 5% note from Kelly White in granting a tine extension on her past-due account receivable. cember 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. omplete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your urnal entries. ote: Do not round intermediate calculations. Use 360 days a year.

ovember 1 Accepted a $5,000, 180-day, 5% note from Kelly White in granting a tine extension on her past-due account receivable. cember 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. omplete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your urnal entries. ote: Do not round intermediate calculations. Use 360 days a year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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