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Decenber 16 Accepted a $10,800,60-day, 84 note in granting Danny Todd a tine extension on his past-due account receivable. Decenber 31 Made an adjusting entry
Decenber 16 Accepted a $10,800,60-day, 84 note in granting Danny Todd a tine extension on his past-due account receivable. Decenber 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 February 14 Received Todd's paynent of principal and interest on the note dated Decenber. 16. March 2 Accepted a $6,106, 85, 90 -day note in granting a tite extension on the past-due account receivable froa Midnight Coepany. March 17 Accepted a \$2,400, 30-day, 74 note in granting Ava Privet a tine extensien on her past-due account receivable. April 16 Privet dishonered her note. May 31 Midnight Conpany dishonored its note. August 7 Accepted a $7,448,90-day, 104 note in granting a tine extension on the past-due account receivable of Mulan Coepany. Septenber 3 Accepted a $2,10e,60-day, 10v note in granting Noah Carson a tine extension on his past-due account receivable. Novenber 2 Received paynent of principal plus interest fron Carson for the Septenber 3 note. Novenber 5 Received payment of principal plus interest fron Mulan for the August 7 note. December 1 Wrote off the Privet account against the Allowance for Doubtfut Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at Docember 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 recelvables as security for a loan from the bank, whore on the financial statements doos it disclose this pledge of recelvables? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts
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