Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company (Use 360 days a year.) 2016 Dec. 16 Accepted a $10,100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,800, 60, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $3,600, 30-day, 78 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co, for the maturity value of te dishonored note plus interest for 46 days beyond maturity at 68. Aug. 7 Accepted a(n) $7,550, 90-day, 8% note dated this day in qranting a time extension on the past-due account receivable of Mulan Co. Sep 3 Accepted an $3.440, 60-day, 118 note dated this day in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for 2017 transactions Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B 1C First, complete the table below to calculate the interest amount at December 31, 2016. Interest Total Through Recognized December Maturity Principal Rate(%) Time Total interest Required 1A Required 1B > Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohim Company (Use 360 days a year.) 2016 Dec. 16 Accepted a $10, 100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Yeb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,800, 6, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $3,600, 30-day, 7 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 68. Aug. 7 Accepted a(n) $7,550, 90-day, 8% note dated this day in granting a time extension on the past-due account receivable of Mulan Co Sep. 3 Accepted a(n) $3,440, 60-day, 110 note dated this day in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. 5 Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for 2017 transactions Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D Use the calculated value to prepare your journal entries for 2016 transactions. View transaction list Journal entry worksheet Accepted a $10, 100, 60-day, 6% note dated this day in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. Date General Journal Dec 16 Debit Credit Record entry Clear entry View general journal Required 1A Required 10 > Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohim Company (Use 360 days a year.) 2016 Dec. 16 Accepted a $10,100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted a(n) $6,800, 60, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted a(n) $3,600, 30-day, 7 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 68. Aug. 7 Accepted a(n) $7,550, 90-day, 8% note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted an) $3,440, 60-day, 118 note dated this day in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. S Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D First, complete the table below to calculate the interest amounts. Midnighe Total Through Maturity Midnight A. Privet Mulan Midnight N. Carson Co. Note - Note Note Co. Note - Note- March 2. March 17 August 7 May 31, September 2017 2017 2017 2017 3. 2017 Note 1 August 7. Principal Rate(%) Time Total interest Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company (Use 360 days a year.) pted a $10,100 perse-due account recevaisinterest on the 2016 Dec. 16 Accepted a $10,100, 60-day, 6 note dated this day in granting Danny Todd a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Todd note. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December Mar. 2 Accepted ain) $6,800, 60, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted ain) $3,600, 30-day, 78 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 6. Aug. 7 Accepted a(n) $7,550, 90-day, 8 note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $3, 440, 60-day, 118 note dated this day in granting Noah Carson a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from Carson for the September 3 note. Nov. S Received payment of principal plus interest from Mulan for the August 7 note. Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 transactions. 1-c. First, complete the table below to calculate the interest amounts. 1-d. Use those calculated values to prepare your journal entries for 2017 transactions Complete this question by entering your answers in the tabs below. Required Required Required Required IA 1B1C1D Use those calculated values to prepare your journal entries for 2017 transactions View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ... 11 > Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. Date General Journal Feb 14 Debit Credit Record entry Clear entry View general journal