GL0701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Parker Company Year 1 Dec. 16 Accepted a $24,000, 60-day, 124 note in granting Jin ohla a tine extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Ohta note. Book co. Prire Year 2 Feb. 14 Received Ohla's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a $9,000, 64, 90-day note in granting a time extension on the past-due account receivable from Clark 17 Accepted a $16,200, 30-day, 104 note in granting Sarah Walker a tine extension on her past-due account receivable. Apr. 16 Walker dishonored her note. May 31 Clark Co. dishonored its note. Aug. 1 Accepted a $10,000, 90-day, 12 note in granting a tine extension on the past-due account receivable of Lee Co. Sep. Accepted a $13.820, 6-day, 104 note in granting Isaac Carter a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest fron Carter for the September 3 note. Nov. 5 Received payment of principal plus interest fron Lee for the August 7 note. 1 Wrote off the Walker account against the Allowance for Doubtful Accounts. Dec. Requirement General Journal General Ledger That Balance Schedule of Calculation of Receivables Interest Foto Parker Co. Calculation of interest revenue February 14 - Ohlm note: Principal Interest rate Number of days' interest to be recorded in Year 2 Number of days' interest to be recorded in Year 2 Principal Interest rate Number of days' interest to be recorded in Year 2 Number of days' interest to be recorded in Year 2 Number of days' interest to be recorded in Year 2 Total interest revenue - Year 2 0