The following selected transactions are from Gonzalez Company. Year 1 December 16 Accepted a $15,600,60-day, 10\% note in granting Lindsey Martin a time extension on his past-due account receivable. December 31 Made an adjusting entry to record the accrued interest on the Martin note. Year 2 February 14 Received Martin's payment of principal and interest on the note dated December 16. March 2 Accepted a $10,000,10%,90-day note in granting a time extension on the past-due account receivable from Hall Company March 17 Accepted a $4,800,30-day, 7% note in granting Carlos Sanchez a time extension on her past-due account receivable. April 16 Sanchez dishonored her note. 31 Hall Company dishonored its note. August 7 Accepted a $14,000,90-day, 10% note in granting a time extension on the past-due account receivible of Mitchell Company September 3 Accepted a $6,600,60-day, 10% note in granting Than Nguyen a time extension on his past-due account receivable. November 2 Received payment of principal plus interest from Nguyen for the September 3 note. November 5 Received payment of principal plus interest from Mitchell for the August 7 note. December 1 Wrote off the Sanchez account against the Allowance for Doubtful Accounts. Prepare the journal entries related to notes recelvable and accounts recelvable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. Journal entry worksheet February 14 Received Martin's payment of principal and interest on the $15,600,60-day, 10% note dated December 16 . The Gonzalez Company does not prepare reversing entries. Verify the amount of interest using the "CALCULATION OF INTEREST" tab. Note: Enter debits before credits. Prepare the journal entries related to notes recelvable and accounts recelvabie. Hint: Use the "Calculation of Interest" teb to ensure the accuracy of your entries. Journal entry worksheet 78910 March 2 Accepted an $10,000,10%,90-day note in granting a time extension on the past-due account recelvable from Hall Company Note: Enter debits before credits. Prepare the journal entrles related to notes recelvable and accounts recelvable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. Journal entry worksheet \langle March 17 Accepted a $4,800,30-day, 7% time extension on her past-due account receivable. Note: Enter debits before credits. Prepare the journal entrles related to notes recelvable and accounts recelvable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. Journal entry worksheet Journal entry worksheet 4\begin{tabular}{lll} 1 & 2 & 3 \\ \hline \end{tabular} Note: Enter debits before credits. Journal entry worksheet November 2 Received payment of principal plus interest from Nguyen for the September 3 note. Note: Enter debits before credits. Journal entry worksheet August 7 Accepted a(n) \$14,000, 90-day, 10\% note in granting a time extension on the past-due account receivable of Mitchell Company Note: Enter debits before credits. Journal entry worksheet September 3 Accepted a $6,600,60-day, 10% note in granting Than Nguyen a time extension on his past-due account receivable. Note: Enter debits before credits. November 5 Received payment of principal plus interest from Mitchell for the August 7 note. Note: Enter debits before credits. December 1 Wrote off the Sanchez account against Allowance for Doubtful Accounts. No additional interest was accrued. Note: Enter debits before credits. General Ledger Account Accounts receivable - C. Sanchez Saved \begin{tabular}{|l|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Allowance for doubbful accounts } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 6,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes receivable - L. Martin } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 15,600 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Merchandise inventory } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 5,000 \\ \hline \end{tabular} \& General Journal Trial Balance > Gonzalez Company Trial Balance January 01, 2020 General Ledger Here are the balances in Accounts and Notes receivable based on your journal entries