The following transactions are from Ohlm Company. Note: Use 360 days a year. Year 1 December 16 Accepted a(n) $10,400, 60-day, 8% 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) $6,500, 8%, 90-day note in granting a time extension on the past-due account receivable from Midnight Company. March 17 Accepted a $2,300, 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) $8,600, 90-day, 8% note in granting a time extension on the past-due account receivable of Mulan Company September 3 Accepted a $3,810, 60-day, 9% 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, Year 1. 1-b. Use the calculated value to prepare your journal entries for Year 1 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for Year 2 transactions. 2. If Ohlm pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Required 1A Required 1B Required 1C Required 1D Required 2 First, complete the table below to calculate the interest amount at December 31, Year 1. Total Through Maturity Interest Recognized December 31 Principal Rate (%) Time Total interest Journal entry worksheet < 1 2 Accepted a $10,400, 60-day, 8% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. Date December 16 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 Made an adjusting entry to record the accrued interest on the Todd note. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal First, complete the table below to calculate the interest amounts. Note: Do not round intermediate calculations. Total Through Maturity Midnight Company Note - March 2, Year 2 A. Privet Note March 17, Year 2 Mulan Note - August 7, Year 2 Principal Rate (%) Time Total interest N. Carson Note- September 3, 2017 Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. Date February 14 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 Accepted a(n) $6,500, 8%, 90-day note in granting a time extension on the past-due account receivable from Midnight Company. Note: Enter debits before credits. Date March 02 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5678910 Accepted a(n) $2,300, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Note: Enter debits before credits. Date March 17 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet 1 2 3 4 5678910 > Privet dishonored her note. Note: Enter debits before credits. Date April 16 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 Midnight Company dishonored its note. Note: Enter debits before credits. Date May 31 4 6 7 8 9 10 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 co 7 8 9 10 > Accepted a(n) $8,600, 90-day, 8% note in granting a time extension on the past-due account receivable of Mulan Company. Note: Enter debits before credits. Date August 07 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 456 8 9 10 > Accepted a(n) $3,810, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Note: Enter debits before credits. Date September 03 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 00 9 10 > Received payment of principal plus interest from Carson for the September 3 note. Note: Enter debits before credits. Date November 02 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 45678 6 10 Received payment of principal plus interest from Mulan for the August 7 note. Note: Enter debits before credits. Date November 05 General Journal Debit Credit > Record entry Clear entry View general journal 456789 Journal entry worksheet 1 2 3 Wrote off the Privet account against the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date December 01 10 10 General Journal Debit Credit Record entry Clear entry View general journal If Ohlm pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? The pledge of receivables is shown in the