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.$$