The following selected transactions are from Taylor Company.

Year $1$

December $16$ Accepted a $$15,600,60-$day, $10\%$ note in granting Spencer Lauer a time extension on his past$-$due account receivable.

December ${?}^{31}$ Made an adjusting entry to record the accrued interest on the Lauer note.

Year $2$

February $14$ Received Lauer's payment of principal and interest on the note dated December $16.$

March $2$ Accepted a $$9,000,10\%,90-$day note in granting a time extension on the past$-$due account receivable from Garcia Company

March $17$ Accepted a $$19,200,30-$day, $7\%$ note in granting Lindsey Martin a time extension on her past$-$due account receivable.

April $16$ Martin dishonored her note.

${?}^{31}$ Garcia Company dishonored its note.

August $7$ Accepted a $$20,000,90-$day, $10\%$ note in granting a time extension on the past$-$due account receivable of Griffin Company

September $3$ Accepted a $$4,200,60-$day, $10\%$ note in granting Carolyn Collins a time extension on his past$-$due account receivable.

November $2$ Received payment of principal plus interest from Collins for the September $3$ note.

November $5$ Received payment of principal plus interest from Griffin for the August $7$ note.

December $1$ Wrote off the Martin account against the Allowance for Doubtful Accounts.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Schedule of$],[$Receivables$]],\backslash$table$[[$Calculation of$],[$Interest$]]]]$

Prepare the journal entries related to notes receivable and accounts receivable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries.

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Journal entry worksheet

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February $14$ Received Lauer's payment of principal and interest on the $$15,600,60-$day, $10\%$ note dated December $16.$ The Taylor Company does not prepare reversing entries. Verify the amount of interest using the

"CALCULATION OF INTEREST" tab.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$February $14,,,],[,,,],[,,,],[,,,],[,,,]]$