GL0701 (Algo). Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Stone Company Year 1 December 16 Accepted a $25,200, 6e-day, note in granting Isaac Cartera tine extension on his past-doe account receivable December 31 Made an adjusting entry to record the accrued interest on the Carter note. Year 2 February 14 Received Carter's payment of principal and interest on the note dated December 16. March 2 Accepted a $8,eee, RL, 90-day note in granting a tine extension on the past-due account receivable from Turner Company March 17 Accepted a $9,600, 30-day, 7% note in granting Melanie Doerr a tine extension on her past due account receivable April 16 Duerr dishonored her note. 31 Turner Company dishonored Its note. August 7 Accepted a $16,000, 9e-day, 1e note in granting a tine extension on the past-due account receivable of Taylor Company September Accepted a 316,200, 60-day. Le note in granting Jose Garcia a tine tension on this past dom account receivable November 2 Received payment of principal plus interest from Garcia for the September 1 note. November 5 Received payment of principal plus interest from Taylor for the August 7 note December 1 hote uff the Duerr account against the Allowance For Doubtful Accounts vo interest Prepare the joumal entries related to notes receivable and accounts receivable Hints Use the "Calculation ensure the accuracy of your entries. View transaction et Journal entry worksheet 1 2 3 5 8 10 February 14 Received Carter's payment of principal and interest on the $25,200, 60-day, 8% note dated December 16. The Stone Company does not prepare reversing entries. Verify the amount of interest using the CALCULATION OF INTEREST tab. te Entered before it Date General Journal Debit Credit February 14 View amal Record met Clearly ensure the accuracy of your entries. or an accounts receivable. Hint: Use the "Calcu View transaction ilet Journal entry worksheet May 31 Turner Company dishonored its note. Note: Enter debits before credits Debit General Journal Date Credit May 31 View general Journal Romantry Clear entry View transaction let Journal entry worksheet 3 4 5 10 8 8 min September 3 Accepted a $16,200, 60-day, 10% note in granting Jose Garcia a time extension on his past-due account receivable. Note: Enter debits before credits Debit Credit General Journal Date September 03 View garaas journal Cleer entry Record entry Prepare ne journal entries related to notes receivable and accounts receivable. Hint: Use the "C ensure the accuracy of your entries. View transaction let Journal entry worksheet