The following selected transactions are from Ohlm Company.(Use 360 days a year.)

2016

Dec.		16		Accepted a $11,900, 60-day, 9% note dated this day in grantingDanny Todd a time extension on his past-due accountreceivable.
		31		Made an adjusting entry to record the accrued interest on theTodd note.

2017

Feb.		14		Received Todd’s payment of principal and interest on the notedated December 16.
Mar.		2		Accepted a(n) $7,900, 9%, 90-day note dated this day ingranting a time extension on the past-due account receivable fromMidnight Co.
		17		Accepted a(n) $2,700, 30-day, 7% note dated this day ingranting Ava Privet a time extension on her past-due accountreceivable.
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 noteplus accrued interest to Midnight Co.'s accounts receivable.
July		16		Received payment from Midnight Co. for the maturity value ofits dishonored note plus interest for 46 days beyond maturity at9%.
Aug.		7		Accepted a(n) $7,200, 90-day, 12% note dated this day ingranting a time extension on the past-due account receivable ofMulan Co.
Sep.		3		Accepted a(n) $2,580, 60-day, 11% note dated this day ingranting Noah Carson a time extension on his past-due accountreceivable.
Nov.		2		Received payment of principal plus interest from Carson for theSeptember 3 note.
Nov.		5		Received payment of principal plus interest from Mulan for theAugust 7 note.
Dec.		1		Wrote off the Privet account against the Allowance for DoubtfulAccounts.

Required:
1-a. First, complete the table below to calculatethe interest amount at December 31, 2016.
1-b. Use the calculated value to prepare yourjournal entries for 2016 transactions.
1-c. First, complete the table below to calculatethe interest amounts.
1-d. Use those calculated values to prepare yourjournal entries for 2017 transactions.

Complete this question by entering your answersin the tabs below.

• Required 1A
• Required 1B
• Required 1C
• Required 1D

First, complete the table below to calculate the interest amountat December 31, 2016.

	Total Through Maturity Interest Recognized December 31 Principal Rate (%) Time Total interest

Journal entry worksheet

• Accepted a $11,900, 60-day, 9% note dated this day in grantingDanny Todd a time extension on his past-due accountreceivable.

Note: Enter debits before credits.

	Date General Journal Debit Credit Dec 16

First, complete the table below to calculate the interestamounts.

	Total Through Maturity Midnight Co. Note - March 2, 2017 A. Privet Note - March 17, 2017 Mulan Note - August 7, 2017 Midnight Co. Note - May 31, 2017 N. Carson Note - September 3, 2017 Principal Rate (%) Time Total interest

Journal entry worksheet

.....

• Received Todd’s payment of principal and interest on the notedated December 16.

Note: Enter debits before credits.

	Date General Journal Debit Credit Feb 14