The following selected transactions are from Mitchell Company. Year 1 December 16 Accepted a $20,400, 60-day, 12% note in granting Kathy Perry a time extension on his past-due account receivable. December 31 Made an adjusting entry to record the accrued interest on the Perry note. Year 2 February 14 Received Perry's payment of principal and interest on the note dated December 16. March 2 Accepted a $11,000, 6%, 90-day note in granting a time extension on the past-due account receivable from Ohlm Company March 17 Accepted a $14,400, 30-day, 7% note in granting Jean Clark a time extension on her past-due account receivable. April 16 Clark dishonored her note.. 31 Ohlm Company dishonored its note. August 7 Accepted a $18,000, 90-day, 10 % note in granting a time extension on the past-due account receivable of Wilson Company September 3 Accepted a $10,200, 60-day, 10 % note in granting Susan Allen a time extension on his past-due account receivable. November 2 Received payment of principal plus interest from Allen for the September 3 note. November 5 Received payment of principal plus interest from Wilson for the August 7 note. December 1 Wrote off the Clark account against the Allowance for Doubtful Accounts. Requirement General Journal General Ledger Trial Balance Schedule of Receivables Calculation of Interest