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Prepare Journal entries with the following information. The following transactions are from Ohim Company. Year 1 Dec. 16 Accepted a $10,800,60-day, 8% note in grunting

Prepare Journal entries with the following information.
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The following transactions are from Ohim Company. Year 1 Dec. 16 Accepted a $10,800,60-day, 8% note in grunting Danny Todd a time extension on his past-due account reccivable: 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

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