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PLEASE HELP ME these are all the same question why is no one answering Note: Use 360 days a year. Year 1 Decenber 16 Accepted
PLEASE HELP ME these are all the same question
why is no one answering
Note: Use 360 days a year. Year 1 Decenber 16 Accepted a(n)$13,000,60-day, 94 note in granting Danny Todd a time 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(n) 58,600,94, 90-day note in granting a tine extension on the past-due account receivable from Midnight Coepany. March 17 Accepted a $2,180, 30-day, 70 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) $8,750, 98-day, 8x note in granting a tine extension on the past-due account recelvable of Mulan Company. September 3 Accepted a \$3,640, 6e-day, 8v note in granting Noah Carson a tine extension on his post-due account receivable. Novenber 2 Received paynent of principal plus interest fron Carson for the Septenber 3 note. Novenber 5 Aeceived paynent of principal plus interest from Mulan for the August 7 note. Decenber 1 Wrote off the Privet occount against the Allowance for Doubtfut 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 Ohim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? 6 Accepted a(n) $8,750,90-day, 8% note in granting a time extension on the past-due account receivable of Mulan Company. 7 Accepted a(n) $3,640,60-day, 8% note in granting Noah Carson a time extension on his past-due account receivable. 8 Received payment of principal plus interest from Carson for the September 3 note. 9 Received payment of principal plus interest from Mulan for the August 7 note. 10 Wrote off the Privet account against the Allowance for Doubtful Accounts. 1 . Received Todd's payment of principal and interest on the note dated December 16. 2 Accepted a(n) $8,000,9%,90-day note in granting a time extension on the past-due account receivable from Midnight Company. 3 Accepted a(n) $2,100,30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. 4 Privet dishonored her note. 5 Midnight Company dishonored its Step by Step Solution
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