The following selected transactions are from Parker Company. Year 1 Dec. 16 31 Accepted a $24,000, 60-day, 12% note in granting Jim Ohlm a time extension on his past-due account receivable. Made an adjusting entry to record the accrued interest on the Ohlm note. Year 2 Feb. 14 Mar. 2 17 Apr. May Aug. Sep. 16 31 7 3 Received Ohlm's payment of principal and interest on the note dated December 16. Accepted a $9,000, 6%, 90-day note in granting a time extension on the past-due account receivable from Clark Co. Accepted a $16,200, 30-day, 10% note in granting Sarah Walker a time extension on her past-due account receivable. Walker dishonored her note. Clark Co. dishonored its note. Accepted a $10,000, 90-day, 12% note in granting a time extension on the past-due account receivable of Lee Co. Accepted a $13,800, 60-day, 10% note in granting Isaac Carter a time extension on his past-due account receivable. Received payment of principal plus interest from Carter for the September 3 note. Received payment of principal plus interest from Lee for the August 7 note. Wrote off the Walker account against the Allowance for Doubtful Accounts. Nov. Nov. Dec. 2 5 1 Requirement General Journal General Ledger Trial Balance Schedule of Receivables Calculation of Interest General Journal tab - Prepare the Year 2 journal entries related to the notes and accounts receivable of Parker Co. Calculation of interest tab Use the interest formula (P x R x T) to verify the amount of interest recorded in your entries. Verify that total interest revenue agrees with the trial balance. Requirement General Journal >