Note: Use 360 days a year. Year 1 pecember 16 Accepted a(n) 514,600,60-day, 71 note in granting Danny Todd a timn extenaion on bin past-due account receivable. pecember 31 Made an adjusting entry to record the acerued intereat on the Todd note. Year 2 Zebruary 14 Received Todd's payment of prineipal and interent on the note dated Decenber 16. March 2 Accepted a(h) 57,400,71,90-day note in granting a time extension on the pant-diue account receivable from Midnight Company. March 17 Accepted a 52,700 , 30-day, 78 note in granting ava Privet a tine extenaion on her past-due acoount. receivable. April 16 Privet alahonored her note. May 31 Midnight Company disbonored it note. August 7 Accepted a(n) 37,450,90-day, 91 note in granting a time extension on the pant-due account receivable of Mulan Company. September 3 Accepted a $3,730,60-day, 10t note in granting Noah carson a time extension on his past-due account November 2 heceived payment of prineipal plui interest from carson for the septenber 3 note. Novenber 5 feceived payment of principal plua interest fron Mulan for the Maguat 7 note. Decenber 1 wrote oft the Privet account againat the Allowance for poubtful 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 joumal 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 receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge 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 joumal 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, where on the financial statements does it disclose this pledge of receivables? Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amount at December 31 , Year 1. Jse the calculated value to prepare your journal entries for Year 1 transactions. Note: Do not round intermediate calculations. Journal entry worksheet Accepted a $14,600,60-day, 7% note in granting Danny Todd a time extension on his past-due account receivable. Note Enter debits before credits. Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. Note: Do not round intermediate calculations. Jse those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. 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 Ohim pledged its recelvables as security for a loan from the bank, where on the financial statements does it disclose this of recelvables? Complete this question by entering your answers in the tabs below. If Ohim pledged its recelvables as security for a loan from the bank, where on the financial statements does it disclose this pledge of recelvables
