the following selected transactions are from Ohlm Company 9-5A analyzing and journalizing notes receivable transactions

Problem 9-5A The following selected transactions are from Ohlm Company. Analyzing and journalizing notes 2014 receivable transactions Dec. 16 Accepted a s10 soo. 60-day s mote dated this day in granting Danny Todd a time e on his past-due account receivable. 3I Made an adjusting entry to record the accrued interest on the Todd note. 2015 Check Feb. 14, cr Feb. 14 Received Todd's payment of principal and interest on the note dated December Interest Revenue $108 Mar. 2 Accepted a S6.100,8%, 90-day note dated this day in granting a time extension on the pastdr account receivable from Midnight Co. 7 a $2,400, 30-day, note dated this day in granting Ava Privet a time extensiona her past-due account receivable. May 31. Cr interest Apr. 16 dishonored her note when presented for payment. May 31 Midnight Co. refuses to pay the note that was due to Ohlm Co. on May 31. Prepare journal entry to charge the dishonored note plus accrued interest to Midnight Co's accouns receivable. Revenue $122 July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interer for 46 days beyond maturity at 8%. Aug. 7 Accepted a $7.450. 90 day. 10% note dated this day in granting a time extension on the pastde account receivable of Mulan Co. Sept. 3 Accepted a $2.100, 60-day, 10% note dated this day in granting Noah Carson a time ertensiv on his past-due account receivable. 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 August 7 note. Dec. 1 off the Privet account against Allowance for Doubtful Accounts. Required Nov 2. Cr Interest 1. Prepare journal entries to record these transactions and events. (Round amounts to the nearest Analysis Component Hovak Allowan 2. What reporting is necessary when a business pledges receivables as security for a loan and be still outstanding at the end of the period? Explain the reason for this requirement and the acorx principle being satisfied. receiva