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GL0701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Parker Company. Year 1 Dec. 16 Accepted a $24,000,

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GL0701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Parker Company. Year 1 Dec. 16 Accepted a $24,000, 60-day, 128 note in granting Jim Ohin a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Ohin note. Year 2 Feb. 14 Received Ohlm's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $9,000, 61, 90-day note in granting a time extension on the past-due account receivable from Clark Co. 17 Accepted a $16,200, 30-day, 108 note in granting Sarah Walker a time extension on her past-due account receivable Apr. 16 Walker dishonored her note. May 31 Clark Co. dishonored its note. Aug. 7 Accepted a $10,000, 90-day, 128 note in granting a time extension on the past-due account receivable of Lee Co. Sep. 3 Accepted a $13,800, 60-day, 108 note granting Isaac Carter a time extension on his past-due acco receivable. Nov. 2 Received payment of principal plus interest from Carter for the September 3 note. Nov. 5 Received payment of principal plus interest from Lee for the August 7 note. Dec. 1 Wrote off the Walker account against the Allowance for Doubtful Accounts. UN Requirement General General Schedule of Calculation of Trial Balance Journal Ledger Receivables Interest Prepare the journal entries related to notes receivable and accounts receivable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. View transaction list ication Problems Juurai CnL y WURSTEEL 4 2 3 5 5 6

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