The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 December 16 Accepted a(n) $12,100, 60-day, 9% 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) $6,700, 9%, 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) $8,250, 90-day, 8% note in granting a time extension on the past-due account receivable of Mulan Company. September 3 Accepted a $3,760, 60-day, 10% 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 i 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 10 Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. Date General Journal Debit Credit No 1 February 14 Cash Interest revenue Notes receivable-D. Todd 12,100 2 March 02 OOO OOOO Notes receivableMidnight Company Accounts receivable-Midnight Company 6,700 6,700 3 March 17 2,700 Notes receivable-A. Privet Accounts receivable-A. Privet 2,700 4 April 16 Accounts receivable-A. Privet Interest revenue Notes receivable A. Privet 2,700 5 5 May 31 Accounts receivableMidnight Company Interest revenue Notes receivableMidnight Company OOO OOO OO 6 August 07 8,250 Notes receivableMulan Accounts receivable-Mulan 8,250 7 September 03 Notes receivable-N. Carson 3,760 Accounts receivable N. Carson 3,760 8 November 02 Cash Interest revenue Notes receivable-N. Carson 9 November 05 Cash Interest revenue Notes receivable-Mulan 10 December 01 Allowance for doubtful accounts Accounts receivable-A. Privet
