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4 The following transactions are from Ohlm Company. (Use 360 days a year.) 15 points Year 1 Dec. 16 Accepted a $12,900, 60-day, 9% note
4 The following transactions are from Ohlm Company. (Use 360 days a year.) 15 points Year 1 Dec. 16 Accepted a $12,900, 60-day, 9% note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Skipped eBook Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,500, 9%, 90-day note in granting a time extension on the past-due account receivable from Midnight co 17 Accepted an) $2,700, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,050, 90-day, 8% note in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,940, 60-day, 11% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Print References Dec. Required: 1-a. First, complete the table below to calculate the interest amount 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 Ohlm pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pled of receivables
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