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11. help plz :) Note: Use 360 days a year. Year 1 December 16 Accepted a(n)$14,400,60-day, 6% note in granting Danny todd o time extension
11. help plz :)
Note: Use 360 days a year. Year 1 December 16 Accepted a(n)$14,400,60-day, 6% note in granting Danny todd o time extension on his past-due account receivable: December 31 Made an adjusting entry to record the accried interest on the Todd note. Year 2 February 14 Received Todd's paynent of principal and interest on the note dated December 16. March 2 Accepted a(n)57,300,6x, 90-day note in grant ing a tine extension on the past-due account receivable fron Midnight. Company. March 17 Accepted a \$3,300, 30-day, 78 note in granting Ava Privet a time extension on ber past-due account receivable. April 16 Privet dishonored her note. May 31 Midnight Company dishonored its note. Mugust 7 Accepted a(n) 58,200, 90-day, 112 note in granting a time extension on the past-due account receivable of Mulan Comany. September 3 Accepted a $2,709,69-day, 9x note in granting Noah Carson a tine extension on his past-due account receivable. November? Received payment of principal plus interest from Carson for the Septeaber 3 note. Novenber 5 Received payment of principal plus interest from Mulan for the August 7 note. December 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-o. First, complete the table below to calculate the interest anount at December 31, Year 1. 1-b. Use the calculated value to prepare your journal entries for Year 1 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for Year 2 transactions. 2. If Ohim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of recelvables? Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amount at December 31 , Year 1. Use the calculated value to prepare your journal entries for Year 1 transactions. Note: Do not round intermediate calculations. Journal entry worksheet Accepted a $14,400,60-day, 6% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. Journal entry worksheet Made an adjusting entry to record the accrued interest on the Todd note. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. Note: Do not round intermediate calculations Step by Step Solution
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