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ca someone please help me with this assignment The following selected transactions are from Ohlm Company 2016 Dec. 16 Accepted a $10,800, 60-day, 8% note
ca someone please help me with this assignment
The following selected transactions are from Ohlm Company 2016 Dec. 16 Accepted a $10,800, 60-day, 8% note dated this day 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 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16 Mar. 2 Accepted a $6,100, 8%, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight co 17 Accepted a $2,400, 30-day, 7% note dated this day in granting Ava Privet a time extension on her past-due account receivable Apr. 16 Privet dishonored her note when presented for payment May 31 Midnight co. refused to pay the note that was due to ohlm co. on May 31. Prepare the journal entry to charge July 16 Received payment from Midnight co. for the maturity value of its dishonored note plus interest for 46 days Aug. 7 Accepted a $7,450, 90-day, 10% note dated this day in granting a time extension on the past-due account Sep. 3 Accepted a $2,100, 60-day, 10% note dated this day in granting Noah Carson a time extension on his past-due the dishonored note plus accrued interest to Midnight co.'s accounts receivable beyond maturity at 8% receivable of MulanCo 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 Dec 1 Wrote off the Privet account against the Allowance for Doubtful AccountsSStep by Step Solution
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