The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14, 300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 99, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. 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. Principal Rate (%) Time Total interest Total Through Maturity $ 14,300 9% 60/360 $ 0 Interest Recognized December 31 $ 14,300 0% X 15/360 $ 0% Required 1A Required 1B > The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14,300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 98, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 1D Required 2 Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate calculations.) No Credit Date Dec 16 General Journal Notes receivableD. Todd Accounts receivableD. Todd Debit 14,300 14,300 Dec 31 Interest receivable Interest revenue Required 1A Required 10 > The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14,300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 99, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 10 Required 2 First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations.) Total Through Maturity A. Privet Midnight Note - Mulan Note Co. Note - March 17, - August 7, May 31, Year 2 Year 2 Year 2 $ 2,400 $ 8,450 $ 0 7% 11% 0% 30/360 90/360 90/360 $ 0X $ Midnight Co. Note - March 2, Year 2 6,900 9% 90/360 $ 0 N. Carson Note - September 3, 2017 $ 2,280 9% 60/360 Principal Rate(%) Time Total interest Required 1A Required 1B Required 1C Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. No Debit Credit Date Feb 14 General Journal Cash Interest revenue Interest receivable Notes receivableD. Todd 0 0 0 Mar 02 Notes receivableMidnight Co Accounts receivableMidnight Co 0 0 Mar 17 Notes receivable-A. Privet Accounts receivable-A. Privet 0 0 Apr 16 Accounts receivableA. Privet Interest revenue Notes receivableA. Privet 0 0 0 May 31 Accounts receivable-Midnight Co Interest revenue Notes receivableMidnight Co 0 0 Aug 07 0 Notes receivableMulan Accounts receivableMulan Sep 03 03 Notes receivableN. Carson Accounts receivable-N. Carson 0 0 Nov 02 Cash Interest revenue Notes receivableN. Carson 0 0 0 Nov 05 Cash Interest revenue Notes receivableMulan 0 0 0 10 Dec 01 Allowance for doubtful accounts Accounts receivableA. Privet The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14, 300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 99, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. 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. Principal Rate (%) Time Total interest Total Through Maturity $ 14,300 9% 60/360 $ 0 Interest Recognized December 31 $ 14,300 0% X 15/360 $ 0% Required 1A Required 1B > The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14,300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 98, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 1D Required 2 Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate calculations.) No Credit Date Dec 16 General Journal Notes receivableD. Todd Accounts receivableD. Todd Debit 14,300 14,300 Dec 31 Interest receivable Interest revenue Required 1A Required 10 > The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 Dec. 16 Accepted a $14,300, 60-day, 98 note in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,900, 99, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,400, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note. May 31 Midnight Co. dishonored its note. Aug. 7 Accepted a(n) $8,450, 90-day, 11% note in granting a time extension on the past-due account receivable of Mulan Co. Sep 3 Accepted a(n) $2,280, 60-day, 9% note in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 10 Required 2 First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations.) Total Through Maturity A. Privet Midnight Note - Mulan Note Co. Note - March 17, - August 7, May 31, Year 2 Year 2 Year 2 $ 2,400 $ 8,450 $ 0 7% 11% 0% 30/360 90/360 90/360 $ 0X $ Midnight Co. Note - March 2, Year 2 6,900 9% 90/360 $ 0 N. Carson Note - September 3, 2017 $ 2,280 9% 60/360 Principal Rate(%) Time Total interest Required 1A Required 1B Required 1C Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. No Debit Credit Date Feb 14 General Journal Cash Interest revenue Interest receivable Notes receivableD. Todd 0 0 0 Mar 02 Notes receivableMidnight Co Accounts receivableMidnight Co 0 0 Mar 17 Notes receivable-A. Privet Accounts receivable-A. Privet 0 0 Apr 16 Accounts receivableA. Privet Interest revenue Notes receivableA. Privet 0 0 0 May 31 Accounts receivable-Midnight Co Interest revenue Notes receivableMidnight Co 0 0 Aug 07 0 Notes receivableMulan Accounts receivableMulan Sep 03 03 Notes receivableN. Carson Accounts receivable-N. Carson 0 0 Nov 02 Cash Interest revenue Notes receivableN. Carson 0 0 0 Nov 05 Cash Interest revenue Notes receivableMulan 0 0 0 10 Dec 01 Allowance for doubtful accounts Accounts receivableA. Privet