The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 December 16 Accepted ain) $13,500, 60-day, 104 note in granting Danny Todd a time extension on his past-dae account receivable. December 31 Made an adjusting entry to record the accrued Interest on the Todd note. Year 2 February 14 Received Todd' payment of principal and interest on the note dated December 16. March 2 Accepted A) 57,900, 108, 90-day note in granting a time extension on the past due account receivable from Midnight Company. March 17 Recepted a $3.500, 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 an) $7,650, 90-day, 118 note in granting a time extension on the past-due account receivable of Mulan Company September 3 Recepted a $2,570, 60-day,- 127 note in granting Noah Carson a time extension on a past-due account receivable. November 3 Received payment of principal plus interest from Carson for the September 3 note. Rovember 5 Received payment of principal plus interest from Mulan for the August 7 note. December 1 wrote of 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. 1-5. 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. 11 Onim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? watan 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 Ohim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Complete this question by entering your answers in the tabs below. Required 1A Required 10 Required 10 Required ID 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 Required 18 > Accepted a $13,500, 60-day, 10% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits General Journal Debit Credit Date December 16 Record entry Clear entry View general Journal Required 1A Required 1B Required 1C Required 10 Required 2 First, complete the table below to calculate the Interest amounts. (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 N. Carson Note September 3, 2017 Principal Rate(%) Time Total interest Journal entry worksheet 2 2 5 6 7 8 9 10 35 Received Todd's payment of principal and Interest on the note dated December 16. Book 0 Note: Enter debits before credits. ferences General Journal Dobit Credit Date February 14 Record entry Clear entry View general Journal Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 10 Required 2 If Ohim pledged its recevables 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
