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The following transactions are from Ohlm Company. (Use 360 days a year.) Year 1

Dec.		16		Accepted a(n) $10,900, 60-day, 9% note 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.

Year 2

Feb.		14		Received Todds payment of principal and interest on the note dated December 16.
Mar.		2		Accepted a(n) $7,900, 9%, 90-day note in granting a time extension on the past-due account receivable from Midnight Co.
		17		Accepted a $3,900, 30-day, 7% note in granting Ava Privet a time extension on her past-due account receivable.
Apr.		16		Privet dishonored her note.
May		31		Midnight Co. dishonored its note.
Aug.		7		Accepted a(n) $8,200, 90-day, 10% note in granting a time extension on the past-due account receivable of Mulan Co.
Sep.		3		Accepted a $2,650, 60-day, 10% note 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.

Complete the table below to calculate the interest amount at December 31, Year 1.

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

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