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Calculate the interest amounts at september

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Question - Following are transactions for Ridge Company.

Mar. 21 Accepted a $13,900, 180-day, 10% note from Tamara Jackson in granting a time extension on her past-due account receivable.

Sept. 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.

Required - Calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries.

Reference no: EM133134937

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