13 Problem 7-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company. (Use 360 days a year) 20 points 2016 Dec. 16 Accepted a $11,100, 60-day, 10% note dated this day in granting Danny Todd a time extension on his past-due Skipped account receivable. 31 Made an adjusting entry to record the acerved interest on the Todd note. edook 2017 Feb. 14 Received Todd's paynent of principal and interest on the note dated December 16. Print 2 Accepted a(n) $7,500, 10%, 90-day note dated this day in granting a time extension on the past-due aecount receivable from Midnight Co. 17 Accepted a(n) $2,000, 30-day, 78 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Mar. References Apr. 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that van due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co. 's accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 10% 7 Accepted a (n) $7,200, 90-day, 10 note dated this day in granting a tine extension on the past-due account receivable of Malan Co. 3 Accepted a(n) $3,830, 60-day, 12 note dated this day in granting Noah Carson a time extension on hin past-due account receivable. 2 Received payment of prineipal plus interest from Carson for the September 3 note 5 Received paynent of principal plus interest from Mulan for the August 7 note. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Aug Sep. Nov. Nov. Dec. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. 1-c. First, complete the table below to calculat the 1-d. Use those calculated values to prepare your journal entries for 2017 transactions. oped Complete this question by entering your answers in the tabs below. ook Required 1A Required 1C Required 1B Required 1D nt ences First, complete the table below to calculate the interest amount at December 31, 2016. Interest Recognized December 31 Total Through Maturity Principal Rate (%) Time Total interest Required 18 13 Journal entry worksheet > 2 nts Accepted a $11,100, 60-day, 10 % note dated this day in granting Danny Todd a time extension on his past-due account rceivable. Skipped eBook Note: Enter debits before credits Credit Debit Print General Journal Date aferences Dec 16 View general journal Clear entry Record entry Required 1A Required 1C > 13 Journal entry worksheet Complete this question by entering your answers in the tabs below. pped Required 1C Required 1D Required 18 Required 1A Book First, complete the table below to calculate the interest amounts. rint Total Through Maturity rences N. Carson Midnight Co. Note - May 31, 2017 A. Pivet Note - March 17, 2017 Midnight Co. Note - March 2, 2017 Note Mulan Note - September 3, 2017 August 7, 2017 Principal Rate (%) Time Total interest > Required 1D Required 1B View transaction list Journal entry worksheet cipped 11 8 7 5 6