man$$gne Lompany.

March $17$ Accepted a $$2,100,30-$day, $78$ note in granting Ava Privet a time extension on her past$-$due account

receivable.

April $16$ Privet dishonored her note.

May $31$ Midnight Company dishonored its note.

August $7$ Accepted $a(n)$$$7,250,90-$day, $98$ note in granting a time extension on the past$-$due account receivable of

Mulan Company.

September $3$ Accepted a $$3,110,60-$day, $118$ note in granting Noah Carson a time extension on his past$-$due account

receivable.

November $2$ Received payment of principal plus interest from Carson for the September $3$ note.

November $5$ Received payment of principal plus interest from Mulan for the August $7$ note.

December $1$ Wrote off the Privet account against the Allowance for Doubtful Accounts.

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 pledge of receivables?

Complete this question by entering your answers in the tabs below.

Required $1$A Required $1$B Required $1$C Required $1$D

First, complete the table below to calculate the interest amounts. $($Do not round intermediate calculations.$)$

$\backslash$table$[[,\backslash$table$[[$Midnight$],[$Company Note$],[-$ March $2,$ Year$]],\backslash$table$[[$A$.$ Privet Note$],[-$ March $17,],[$Year $2]],\backslash$table$[[$Mulan Note $-],[$August $7,$ Year$]],\backslash$table$[[$N$.$ Carson$],[$Note $-],[$September $3,],[2017]]],[$Principal$,,,,],[$Rate $(\%),,,,],[$Time$,,,,],[$Total interest,,,,$]]$

Mc

$2$ of $2$

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