The following transactions are from Springer Company

Year 1

Nov. 1 Accepted a $4,800, 90-day, 8% note in granting Steve Julian a time extension on his past-due account receivable.

Dec. 31 Made an adjusting entry to record the accrued interest on the Julian note.

Year 2

Jan. 30 Received Julian's payment for principal and interest on the note dated November 1.

Feb. 28 Accepted a $12,600, 30-day, 8% note in granting a time extension on the past0due account receivable from King Co.

Mar. 1 Accepted $a $6,200, 60-day, 12% note in granting Myron Shelley a time extension on his past-due account receivable.

Apr. 30 The King Co. dishonored its note.

Apr. 30 Received payment of principal plus interest from M. Shelley for the March 1 note.

June 15 Accepted a $2,000, 72-day, 8% note in granting J. Felton a time extension on his past-due account receivable of Ryder Solon

June 21 Accepted a $9,500, 90-day, 8% note in granting J. Felton a time extension on his past-due account receivable.

Aug. 26 Received payment of principal plus interest from R. Solon for the June 15 note.

Sep. 19 Received payment of principal plus interest from J. Felton for the June 21 note.

Nov. 30 Wrote off King's account against the Allowance for Doubtful Accounts.