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Use the calculated value to prepare your journal entries for Year 1 transactions

The following transactions are from Ohim Company. Note: Use 360 days a year. Year 1 December if Recepted a(n) $14,300,60-day, is pote in qranting Danny Todd a tine extension on kis past-due accoust recoivable. Decenber 31 Made an adfusting entry to record the acerued interest on the rodd note. Year 2 Tebruary 14 Neceived Todd's payment of principal and laterest on the note dated Decenber 16. Midnight Company. Mareb 17 Aocepted a $2,100, 30-day, 75 note in granting Ava Privet a time extensioe on her past-due acoount receivable. Apr12 16 Privet disbonored ber note. May 31 Midnight Conpasy dishonored its note. Auquat 7 Accepted a(n),57,250, 90-day, 90 note in grastisg a time extension on the past-doe accosint receivabla of Malan Conpany. September 3 Aecopted a $3,110,60-day, 11 note in granting Woah carson a tise extession on his past-doe account. receivable. Novenber 2 Meceived paycent of principal plus interest troe carson for the september 3 note. Movenber 5 Recetved payment of principal plus interest from Hulan for the Aiggut 7 note. Decesber 1 Wroten off the privet account againat the Allowanes for Doubtful Mcoounta, Required: 1-a. First, complete the table below to calculate the interest amount at December 31 , Year 1 1.b. Use the calculated value to prepare your journal entries for Year 1 transactions. 1.c. First, complete the table below to calculate the interest amounts. 1.d. Use those calculoted values to prepore your journal entries for Yoar 2 transactions. 2. If Ohim pledged its receivables as security for a loan from the bank, where on the financial statements does it disclose this pledge of recelvables? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Use the calculated value to prepare your joumal entries for Year 1 transactions. (Oo not round intermediate calculations:) Journal entry worksheet Accepted a \$14,300, 60-day, 8% note in granting Danmy Todd a time extension on his past-due account recelvable. Note: Enter debis befloge credits. Complete this question by entering your answers in the tabs below. Use the calculated value to prepare your journal entries for Year 1 transactions. ( 00 not round intermediate cafculations.) Journal entry worksheet Made an adjusting entry to record the accrued interest on the Todd note. Wote: Erver debits before credits

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