|Following are selected transactions Danica Company for 2014.|
Accepted a $26,000, 45-day, 9% note dated December 13 in granting Miranda Lee a time extension on her past-due account receivable.
Prepared an adjusting entry to record the accrued interest on the Lee note.
First, complete the table below to calculate the interest amounts at December 31st. (Do not round intermediate calculations. Round your final answers to nearest whole dollar. Use 360 days a year.)
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