GL0701 (Algo) - Based on Problem 7-5A LO C2, C3, P4 30 points eBcok Ask The following selected transactions are from Parker Company. Year 1 Decenber 16 Accepted a $24,000, 60-day, 12% note in granting Jim ohln a time extension on his past-due account receivable. Decenber 31 Made an adjusting entry to record the accrued interest on the Chin note. Year 2 February 14 Received Ohln's paynent of principal and Interest on the note doted December 16. March 2 Accepted a $9,600, 6%, 90-day note in granting a time extension on the past-due account receivable fram Clark Company March 17 Accepted a $16,200,30-day, 106 note in granting Sarah walker a time extension on her past-due account receivable. Apri1 16 walker