The following selected transactions are from Ohlm Company 2017 Dec. 16 Accepted a $10,800, 60-day, 8% note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Received Todd's payment of principal and interest on the note dated December 16. 2 Accepted a $6,100, 8x, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 2018 Feb. 14 Mar. Accepted a $2,400, 30-day, 7% note dated this day in granting Ava Privet a time extension on her past-due account 17 receivable. Apr. 16 May 31 Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the Privet dishonored her note when presented for payment. dishonored note plus accrued interest to Hidnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 8%. 7 Accepted a $7,450, 98-day, 10% note dated this day in granting a time extension on the past-due account receivable of Mulan Co. 3 Accepted a $2,100, 60-day, 10% note dated this day in granting Noah Carson a tine extension on his past-due account Aug. Sep. receivable. Received payment of principal plus interest from Carson for the September 3 note. 5 Received payment of principal plus interest from Mulan for the August 7 note. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. 2 Nov. Nov- Dec. General Ledger Schedule of Calculation of Interest General Journal Trial Balance Requirement Receivables Schedule of Calculati Receivables General Journal General Trial Balance Requirement Ledger Intere Prepare the journal entries related to notes receivable and accounts rec ensure the accuracy of your entries View transaction list 11 Feb. 14 Received Todd"s payment of principal and interest on the $10,800, 60-day, 8 % note dated December 16. The Ohlm Company does not prepare reversing entries. Verify the amount of interest using the "CALCULATION OF INTEREST" tab. 1 ,800, repare ON OF Mar. 2 Accepted day in granting a time extension on the past-due account receivable from Midnight Co. 2 a $6,100, 8%, 90-day note dated this Credit Mar. 17 Accepted a $2,400, 30-day, 7 % note dated this day in granting Ava Privet a time extension on her past- due account receivable. Apr. 16 Privet dishonored her note when presented for navmant Note: journal entry has been entered Record entry Clear entry View general jou epare the journal entries rela sure the accuracy of your entries View transaction list Xi day in granting Ava Privet a time extension on her past- due account receivable. 11 1,800, Apr. 16 Privet dishonored her note when presented for 4 repare payment. ON OF May 31 Midnight Co. refuses to pay the note that was due to Ohim Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co."s accounts receivable. 5 Credit Jul. 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 8%. (Round interest to the nearest whole dollar.) Note: journal entry has been entered Record entry Clear entry View general jou days beyond maturity at 8%. (Round interest to the nearest whole dollar.) 11 ,800, Aug. 7 Accepted a $7,450, 90-day, 10 % note dated this day in granting a time extension on the past-due account receivable of Mulan Co. repare 7 ON OF Sept. 3 Accepted day in granting Noah Carson a time extension on his past-due account receivable. $2,100, 60-day, 10% note dated this a Credit Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the Auaust 7 note. 10 journal entry has been entered Note: Record entry Clear entry View general journa. ch 10 Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against Allowance for 11 Doubtful Accounts. No additional interest was accrued. Note : = journal entry has been entered Recont entry total interest revenue agrees with the trial balance Dates: Jan 01 Ohhn Co Calculation of interes February 14-Todd note: Principal Interest rate Number of days interest to be recorded in 2018 Number of days' interest to be recorded in 2018 Principal Interest rate Number of days interest to be recorded in 2018 Number of days' interest to be recorded in 2018 Number of days interest to be recorded in 2018 Number of days' interest to be recorded in 2018 Total interest revenue- 2018
