USLUUS O From Prez Company. Year 1 Dec. 16 Accepted a $21,600, 60-day, 8 note in granting Susan Allen a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Allen note. Year 2 Feb. 14 Received Allen's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $10,000, 8%, 90-day note in granting a time extension on the past-due account receivable from Carter Co. 17 Accepted a $7,800, 30-day, 8% note in granting Tony Turner a time extension on her past-due account receivable. Apr. 16 Turner dishonored her note. May 31 Carter Co. dishonored its note. 7 Accepted a $10,000, 98-day, 84 note in granting a time extension on the past-due account receivable of Duerr Co. Sep. 3 Accepted a $12,680, 60-day, 18% note in granting Spencer Lauer a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Lauer for the September 3 note. Nov. 5 Received payment of principal plus interest from Duerr for the August 7 note. Dec. 1 Wrote off the Turner account against the Allowance for Doubtful Accounts. Aug. Requirement General Journal General Ledger Trial Balance Schedule of Calculation of Receivables Interest Prepare the journal entries related to notes receivable and accounts receivable. Hint: Use the "Calculation of Interest" tab to ensure the accuracy of your entries. +++ View transaction list Journal entry worksheet