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PLS NEED THIS ASAP if my screenshots suck or info is missing just do what you can I WILL TAKE IT. i always thumbs up
PLS NEED THIS ASAP
if my screenshots suck or info is missing just do what you can I WILL TAKE IT. i always thumbs up
The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $10,880, 60-day, 7% note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $7,600, 7%, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,200, 30-day, 7% note in granting Ava Privet a time extension on her past-due' account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,380, 90-day, 10% note in granting a time extension on the past due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,110, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table belowo 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 plede of receivables? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 1C Required 1D Required 2 First, complete the table below to calculate the interest amount at December 31, Year 1. Help Save & Exit Sut Requirea: 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? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 1D Required 2 First, complete the table below to calculate the interest amount at December 31, Year 1. Total Through Maturity Interest Recognized Detsember 31 Principal Rate(%) Time Total interest - Required 1A Required 13 > Soved Help Save & Exit Required 1A Required 1B Required 1C Required 1D Required 2 Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Accepted a $10,800, 60-day, 7% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. Date General Journal Debit Credit Dec 16 Record entry Clear entry View general journal Required 1A Required 18 Required 1C Required 1D Required 2 Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate calculations.) View transaction list Journal entry worksheet Made an adjusting entry to record the accrued interest on the Todd note. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Saved Help Save & Exits .-. wwwwwwwwwwwwwwww 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 1A Required 1B Required 1C Required 1D Required 2 First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations.) Midnight Co. Note - March 2. Year 2 Total Through Maturity A. Privet Note Mulan Note - Midnight Co. N. Carson Note - - March 17. August 7. Year Note - May 31, September 3. Year 2 Year 2 2017 Principal Rate(%) Time Total interest Required 1A Required 1B Required 1C Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list Journal entry worksheet 2 3 4 5 6 7 910 Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits Date General Journal Debit Credit Feb 14 Record entry Clear entry View general journal Required 1A Required 1B Required 1C Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list 10 Received Todd's payment of principal and interest on the 1 note dated December 16. ecember 2 Accepted a(n) $7,600, 7 %, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. Accepted a(n) $2,200, 30-day, 7% note in granting Ava Privet a time extension on her past-due account 3 Credit receivable. Privet dishonored her note. 4 5 Midnight Co. dishonored its note. Note: = journal entry has been entered View general journal Record entry Clear entry Required 1A Required 1B Required 1C Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list 6 10 Accepted a(n) $8,300, 90-day, 10% note in granting a time extension on the past-due account receivable of Mulan Co. December 7 Accepted a(n) $2,110, 60-day, 9% 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. Credit 9 Reghived payment of principal plus interest from Mulan for the August 7 note. 10 Wrote off the Privet account against the Allowance for Doubtful Accounts. Note : = journal entry has been entered View general journal Record entry Clear entry Saved Help Save & Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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 of receivables? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 10 Required 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? The pledge of receivables is shown in theStep by Step Solution
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