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The following selected transactions are from Turner Company Year 1 Dec. 16 Accepted a $22,800, 60-day, 10% note in granting Than Nguyen a time extension

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The following selected transactions are from Turner Company Year 1 Dec. 16 Accepted a $22,800, 60-day, 10% note in granting Than Nguyen a time extension on his past due account receivable. 31 Made an adjusting entry to record the accrued interest on the Nguyen note. Year 2 Feb. 14 Received Nguyen's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $8,000, 10%, 90-day note in granting a time extension on the past-due account receivable from L CO. 17 Accepted a $15,600, 30-day, 7% note in granting Spencer Lauer a time extension on her past-due account receivable Apr. 16 Lauer dishonored her note. May 31 Lee Co. dishonored its note. Aug. 7 Accepted a $22,000, 90-day, 8% note in granting a time extension on the past-due account receivable of Perez Co. Sep 3 Accepted a $12, 600, 60.day, 10% note in granting Kay Wright a time extension on his past doo account receivable Nov. 2 Received payment of principal plus interest from Wright for the September 3 note. Nov 5 Received payment of principal plus interest from Perez for the August 7 note Dec. Wrote off the Lauer account against the Allowance for Doubtful Accounts 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 Turner Co. Journal entry worksheet Feb. 14 Received Nguyen's payment of principal and interest on the $22,800, 60-day, 10% note dated December 16. The Turner Company does not prepare reversing entries. Verify the amount of interest using the "CALCULATION OF INTEREST" tab. Note: Enter debits before credits. es Date Feb 14 General Journal Debit Credit Recordant Garantie Viewonera Luna

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