The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1 16 Accepted a $11,700, 60-day, 9% 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. Dec. Year 2 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. 2 Accepted a(n) $7,600, 9%, 90-day note in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $2,200, 30-day, 7% note in granting Ava Privet a time extension on her past-due account Mar. receivable. Apr. 16 Privet dishonored her note. 31 Midnight Co. dishonored its note. 7 Accepted a(n) $8,900, 90-day, 10% note in granting a time extension on the past-due account receivable of Mulan May Aug. Co. 3 Accepted a(n) $2,000, 60-day, 10% note in granting Noah Carson a time extension on his past-due account Sep. receivable. 2 Received payment of principal plus interest from Carson for the September 3 note. 5 Received payment of principal plus interest from Mulan for the August 7 note. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Nov. Nov. Dec. 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 2 Required 1B Required 1C Required 1D First, complete the table below to calculate the interest amount at December 31, Year 1. Interest Total Through Maturity Recognized December 31 Principal Rate (%) Time Total interest Required 1C Required 1A Required 1B Required 1D Required 2 Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intern View transaction list Journal entry worksheet Accepted a $11,700, 60-day, 9% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. Date General Journal Credit Debit Dec 16 Record entry Clear entry View general journal Required 1B Required 2 Required 1A Required 1C Required 1D Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round interm View transaction list Journal entry worksheet Made an adjusting entry to record the accrued interest on the Todd note. Note: Enter debits before credits. Credit Date General Journal Debit Dec 31 Record entry Clear entry View general journal Required 1A Required 2 Required 1B Required 1C Required 1D First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations.) Total Through Maturity N. Carson A. Privet Note March 17, Year 2 Mulan Note - Midnight Co. August 7, Year Note - May 31, Year 2 Midnight Co. Note - Note - March September 3, 2017 2, Year 2 2 Principal Rate (%) Time Total interest Required 1B Required 1C Required 1A Required 1D Required 2 Use those calculated values to prepare your journal entries for Year 2 transactions. View transaction list Journal entry worksheet 2 4 10 Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. Debit Date General Journal Credit Feb 14 Record entry Clear entry View general journal Required 2 Required 1A Required 1B Required 1C Required 1D 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
