The following transactions are from Ohlm Company.

Note: Use $360$ days a year.

Year $1$

December $16$ Accepted a$($n$)$ $$14,600,60-$day, $7\%$ note in granting Danny Todd a time extension on his past$-$due account receivable.

December $31$ Made an adjusting entry to record the accrued interest on the Todd note.

Year $2$

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

March $2$ Accepted a$($n$)$ $$7,600,7\%,90-$day note in granting a time extension on the past$-$due account receivable from Midnight Company.

March $17$ Accepted a $$2,700,30-$day, $7\%$ note in granting Ava Privet a time extension on her past$-$due account receivable.

April $16$ Privet dishonored her note.

May $31$ Midnight Company dishonored its note.

August $7$ Accepted a$($n$)$ $$7,050,90-$day, $11\%$ note in granting a time extension on the past$-$due account receivable of Mulan Company.

September $3$ Accepted a $$2,850,60-$day, $8\%$ note in granting Noah Carson a time extension on his past$-$due account receivable.

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

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

December $1$ Wrote off the Privet account against the Allowance for Doubtful Accounts.Use those calculated values to prepare your journal entries for Year $2$ transactions.

$\backslash$table$[[$No$,$Date,General Journal,,Debit,Credit$],[1,$February $14,$Cash,$,14,723,],[,$Notes receivable$$D$.$ Todd,$,,14,600vv$