Problem 7-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following transactions are from Ohim Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted . $18,800, 60-day, 8% note in granting Danny Todd a tint extension on his past due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. nces Nov. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a 56,100, 8%, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a $2,400, 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 57,440, 90-day, 10% note in granting a time extension on the post-due account receivable of Mulan Co. Sep 3. Accepted $2,100, 60-day, 1ex note in granting Noah Carson a time extension on his past due account receivable. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov.5 Received paynent of principal plus interest from Mulan for the August 7 notes 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 Ohim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Journal entry worksheet bon 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 Required 1A Required 1B Required 10 Required 1D Required 2 First, complete the table below to calculate the interest amounts. Total through maturity Midnight Co. A. Privet Note Note - March - March 17. 2, Year 2 Year 2 Mulan Note - August 7, Year 2 N. Carson Note - September 3, Year 2 Principal Rate(%) Time Total interest Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list Journal entry worksheet Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. General Journal Debit Credit Date Feb 14