Duerr Company. 2016 Dec. 16 Accepted a $12,000, 60-day, 10% note dated this day in granting Edward Lee a tine extension on his past-due account receivable.
31 Made an adjusting entry to record the accrued interest on the Lee note.
2017 Feb. 14 Received Lee's payment of principal and interest on the note dated
December 16. Mar.2 Accepted a $11,000, 108, 90-day note dated this day in granting a time extension on the past-due account receivable from Lauer Co.
17 Accepted a $17,400, 30-day, 8% note dated this day in granting Jose Garcia a tine extension on her past-due account receivable.
Apr. 16 Garcia dishonored her note when presented for payment.
May 31 Lauer Co. refused to pay the note that was due to Duerr Co. on May 31.
Prepare the journal entry to charge the July 16 Received payment from Lauer Co. for the maturity value of its dishonored note plus interest for 46 days beyond Aug. 7 Accepted a $14,000, 90-day, 8s note dated this day in granting a time extension on the past-due account dishonored note plus accrued interest to Lauer Co. 's accounts receivable. maturity at 108 receivable of Stone Co. account receivable 3 Accepted a $16,200, 60-day, 108 note dated this day in granting Wang Lee a time extension on his past-due Nov. 2 Received payment of principal plus interest from Lee for the September 3 note Nov. 5 Received payment of principal plus interest from Stone for the August 7 note. Dec. 1 Wrote off the Garcia account against the Allovance for Doubtful Accounts. Schedule of Calculation of GeneralTrial Balance ReceivablesIntere Ledger Requirement Journal General Journal tab - Prepare the 2017 journal entries related to the notes and accounts receivable of Duerr Co. Calculation of interest tab