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 Nguyens 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 Lee 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, 6% 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-due 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.		1			Wrote off the Lauer account against the Allowance for Doubtful Accounts.

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. ote: Enter debits before credits. Date General Journal Debit Credit Feb 14 Cash Notes receivable - T. Nguyen Interest receivable Interest revenue