The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 December 16 Accepted any $14,600, 60-day, 9 note in granting Danny Todd a tine extension on his past-due account receivable December 31 Mode 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 an) $6,100, 91, 90-day note in granting a time extension on the past-due account receivable from Midnight Company. March 17 Accepted a $3,400, 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) $8,050, 90-day, 128 note in granting a time extension on the past-due account receivable of Mulan Company September 3 Accepted a 61,490,60-day, 109 note in granting Hoah Carson a time extension is past-duo account recevable. 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 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 18 Required 1C Required 10 Required 2 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. Total Through Maturity Interest Recognized December 31 Principal Rate (%) Time Total interest Accepted a $14,600, 60-day, 9% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. General Journal Debit Credit Dato December 16 Record entry Clear entry View general Journal 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 amounts. (Do not round intermediate calculations.) Total Through Maturity Midnight Company Note - March 2, Year 2 A. Privet Note March 17, Year 2 Mulan Noto - August 7 Year 2 N. Carson Note - September 3 2017 Principal Rate(%) Timo Total interest Required 1A Required 1B Required 10 Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list Journal entry worksheet 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 General Journal Debit Credit 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 1D Required 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? The pledge of receivables is shown in the Income statement Financial statement footnotes Balance sheet
