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The following selected transactions are from Ohlm Company. (Use 36o days a year) 2016 Dec. 16 Accepted a $11,700, 60-day, 109 note dated thin day
The following selected transactions are from Ohlm Company. (Use 36o days a year) 2016 Dec. 16 Accepted a $11,700, 60-day, 109 note dated thin day in granting Danny Todd a tine extension on hia past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd'a payment of principal and interest on the note dated December 16. Mar. 2 Accepted, a(n) S7,600, 10% 90-day note dated this dayZn granting a time exten. ion on the past-due acoount receivable from Midnight Co. 17 Accepted a(n) S, 300, 30-day, 7% note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dinhonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohim Co. on May 31. Prepare the journal entry to charge the July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days Aug. 7 Accepted a(n) S8, 100, 90-day, 10% note dated this day in granting a tine extension on the past-due account Sep. 3 Accepted a(n) $2,220, 60-day, 10s note dated this day in granting Noah Carson a time extension on his paat-due dishonored note plus accrued interest to Midnight Co. 's accounts receivable. beyond maturity at 108. receivable of Mulan Co. receivable Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plun interest from Mulan for the Auguat 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts
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