1 The following selected transactions are from Taylor Company Year f December 16 Accepted a $12,000, sa-day, 1 note in granting Rick Mitchell a time extension on his past-due account receivable. December 31 Made an adjusting entry to record the accrued interest on the Mitchell note. Year 2 February 14 Received Mitchell's payment of principal and interest on the note dated December 16. took March 2 Accepted a 50,000, 105, 90.day note in granting a time extension on the past-due account receivable from Parker Company March 17 Accepted a $10,200, 30-day, 8 note in granting Robert King a time extension on her past-due account receivable. April 16 King dishonored her note. 11 Parker Company dishonored its note. Prim August 7 Accepted $18,000, 90-day, 8 note in granting time extension on the past-doe account receivable of Nguyen Company September 3 Accepted a $17,400, 60-day, 10% note in granting Juan Perez a time extension on his past-due account receivable. November 2 Received payment of principal plux interest from Perez for the September 3 note. November 5 Received payment of principal plus interest from Nguyen for the August 7 note. December 1 wrote off the King account against the Allowance for Doubtful Accounts. References Requirement General Journal General Ledger Thal 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 General General Requirement Journal Trial Balance Ledger Schedule of Receivables Calculation of Interest Enter the principal amount, interest rate, and number of days of interest to be recorded for each note. Verify that total interest revenue agrees with the trial balance. Dates: January 01 65 to: January 31 Taylor Company Calculation of interest revenue February 14-Mitchell 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 Tatal interest revenue-Year 2 Schedule of Receivables Caudation of Interest 1 *** Journal entry worksheet $100 of the w Taplex -Compare Number of days to reded in Year Number of days be TH2 Pre Inert ale Number of to be red in Year 2 Nerf bein2 Number of days in Year 2 February 14 Mchelle Proved - PAYSAGE Total 2 Se of Receivable Date: January 01 January 31