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thank you! The following transactions are from Ohim Company. (Use 360 days a year.) Year 1 December 16 Aocepted a(n)$12,100,60-day, 91 note in granting Danny
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The following transactions are from Ohim Company. (Use 360 days a year.) Year 1 December 16 Aocepted a(n)$12,100,60-day, 91 note in granting Danny Todd a time extension on his past-due account receivable. December 31 Made an adjusting entry to record the acorued interest on the Todd note. Year 2 February 14 Received Todd's payment of principal and interest on the note dated December 16. March 2 Accepted a(n) $6,000, 9t, 90-day bote in granting a time extension on the past-due account receivable from Kidnight Company. Karch 17 Accepted a $3,200, 30-day, 7 note in granting Ava Privet a time extension on her past-due account receivable. Apri1 16 Privet dishonored her note. May 31 Midnight Conpany dishonored itn note. August 7 Accepted a(n) $8,200,90-day, 81 note in granting a time extension on the past-due account receivable of Malan Conpany. September 3 Accepted a $3,690,60-day, 101 note in granting Noah carson a time extension on hin past-due account receivable. - November 2 received payment of principal plus interest from Carson for the september 3 note. November 5 Received payment of principal plus interest from Mulan fge the August 7 note. Decenber 1 Wrote off the Privet account against the Allowance for Ddubtful Accountir. 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 pledge of receivables? Complete this question by entering your answers in the tabs below. First, complete the table below to calculate the interest amounts. (Do not round -itermediate calcula If Ohlm pledged its recelvables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables Step by Step Solution
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