The tollowing transactions are trom 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. 28Accepted a $12,600, 30-day, 8\% note in granting a time extension on the past-due 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. 30 The King Co. dishonored its note. Apr. 30Received payment of principal plus interest from M. Shelley for the March 1 note. June 15Accepted a $2,000, 72-day, 8\% note in granting a time extension on the past-due account receivable of Ryder Solon. 21 Accepted a $9,500,90-day, 8% note in granting J. Felton a time extension on his past-due account receivable. Aug. 26Received payment of principal plus interest from R. Solon for the June 15 note. Sep. 19Received payment of principal plus interest from J. Felton for the June 21 note. Nov. 30Wrote off King's account against the Allowance for Doubtful Accounts. Required 1. Prepare journal entries to record these transactions and events. Analysis Component 2. If Springer pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Check Jan. 30, Cr. Interest Revenue, $32 Apr. 30, Cr. Interest Revenue, $124 Sep. 19, Cr. Interest Revenue, $190