The following selected transactions are from Sanchez Company. Year 1 Dec. 16 Accepted a $16,800, 60-day, 12% note in granting Carolyn Collins a time extension on his past-due account receivab Made an adjusting entry to record the accrued interest on the Collins note. 31 Year 2 Feb. 14 Received Collins's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $8,000, 6%, 90-day note in granting a time extension on the past-due account receivable from Perry Co. 17 Accepted a $12, 600, 30-day, 8% note in granting Jim Ohlm a time extension on her past-due account receivable. Apr. 16 Ohlm dishonored her note. May 31 Perry Co. dishonored its note. Aug. 7 Accepted a $12,000, 90-day, 8% note in granting a time extension on the past-due account receivable of Gonzalez Co Sep. 3 Accepted a $6,600, 60-day, 10% note in granting Greg Taylor a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Taylor for the September 3 note. Nov. 5 Received payment of principal plus interest from Gonzalez for the August 7 note. Dec. 1 Wrote off the Ohlm account against the Allowance for Doubtful Accounts. Requirement General Journal General Ledger Trial Balance Schedule of Receivables Calculation of Interest General Ledger Account Cash Account receivable - Other No. Debit Credit No. Date Debit Credit Balance 40,900 Jan 01 Date Jan 01 Feb 14 Nov 02 Nov 05 Balance 41,016 58,152 64,862 77,102 17,136 6,710 12,240 000 9 Accounts receivable - G. Taylor Accounts receivable - Perry Co. No. Debit Credit No. Date Debit Credit Date Jan 01 Balance 6,600 Balance 8,000 Jan 01 General Ledger Account Cash Account receivable - Other No. Date Debit Credit No. Date Debit Credit Balance 40,900 Jan 01 Jan 01 Feb 14 1 Balance 41,016 58,152 64,862 77,102 8 17,136 6,710 12,240 Nov 02 Nov 05 9 Accounts receivable - G. Taylor Accounts receivable - Perry Co. No. Date Debit Credit No. Date Debit Credit Balance 6,600 0 Balance 8,000 Jan 01 Sep 03 Jan 01 7 6,600 2 Mar 02 8,000 0 Accounts receivable - Gonzalez Accounts receivable - J. Ohlm No. Date Debit Credit No. Date Debit Credit Balance 12,000 0 Balance 12,600 Jan 01 Jan 01 6 Aug 07 12.000 3 Mar 17 12,600 0 4 12,684 12,684 Apr 16 Dec 01 10 12,684 0 Allowance for doubtful accounts Notes receivable - G. Taylor No. Date Debit Credit Balance No. Date Debit Credit Balance 0 Jan 01 Dec 01 16,000 3,316 10 12,684 7 Jan 01 Sep 03 Nov 02 6,600 6,600 8 6,600 0 Notes receivable - Perry Co. Notes receivable - Gonzalez No. Date Debit Credit Balance No. Date Debit Credit Balance Jan 01 0 Jan 01 0 2. Mar 02 8,000 8,000 6 Aug 07 12,000 12,000 Alan Annn Notes receivable - J. Ohlm Notes receivable - C. Collins No. Date Debit Credit Balance No. Date Debit Credit 0 Jan 01 Balance 16,800 0 Jan 01 Mar 17 Apr 16 12,600 1 Feb 14 3 4 16,800 12,600 0 12,600 Interest receivable Merchandise inventory No. Date Debit Credit Balance No. Date Debit Credit Balance 5,000 Jan 01 84 Jan 01 Owner's Capital Interest revenue No. Date Debit Credit No. Date Debit Credit Balance Balance 127,000 Jan 01 Jan 01 0 1 252 252 4 Feb 14 Apr 16 Nov 02 84 336 446 8 110