60.1K

Verified Solution

Link Copied!

Plz help asap!!!

First, complete the table below to calculate the interest amounts. (Do not round intermediate calculations.) Use those calculated values to prepare your journal entries for Year 2 transactions. Note: Enter debits before credits. Jse those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet 5 6 8 9 10 Accepted a(n) $3,400,30-day, 7% note in granting Ava Privet a time extension on her past-due account recelvable. Note: Enter debits before credits. Jse those calculated values to prepare your fournal entries for Year 2 transactions. Journal entry worksheet Accepted a(n)$7,500,9%,90-day note in granting a time extension on the past-due account recelvable from Midnight Company. Note: Enter debits before credits: Use those calculated values to prepare your journal entries for Year 2 transactions. Wrote off the Privet account against the Allowance for Doubtful Accounts. Note: Enter debies before credits. Use those calculated values to prepare your journal entries for Year 2 transactions: Accepted a(n) $7,650,90-day, 12% note in granting a time extension on the past-due account recelvable of Mulan Company. Note: Enter debits before credits. Jse those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet Received Todd's payment of principal and interest on the note dated December 16. Note: Enter debits before credits. se those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet Jse those calculated values to prepare your journal entries for Year 2 transactions. Accepted a(n)$3,500,60-day, 12% note in granting Noah Carson a time extension on his past-due account receivable. Note: Enter debits before credits. The following transactions are from Ohim Company. (Use 360 days a yeor.) Year 1 December 31 Made an adjusting entry to record the accrued interest on the Todd note. Year 2 February 14 Received Todd's payment of principal and interest on the note dated Decenber 16. Company. April 16 Privet dishonored her note. May 31 Midnight Conpany dishonored its note. Company. November 2 Received payment of principal plus interest from Carson for the Septenber 3 note. November 5 Received payment of principal plus interest from Mulan for the August 7 note. December 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-0. 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 calculated values to prepare your journal entries for Year 2 transactions. 2. If Ohlm pledged its recelvables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Complete this question by entering your answers in the tabs below. If Ohim pledged its recelvables as security for a loan from the bank, where on the financial statements does it disclose this pledge of receivables? Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate Journal entry worksheet Made an adjusting entry to record the accrued interest on the Todd note. Note: Enter debits before credits. Use those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet 12345678 Received payment of principal plus interest from Mulan for the August 7 note. Note: Enter debits before credits. Ise those calculated values to prepare your journal entries for Year 2 transactions. Journal entry worksheet Use the calculated value to prepare your journal entries for Year 1 transactions. (Do not round intermediate calculations.) Journal entry worksheet Accepted a $12,000,60-day, 9% note in granting Danny Todd a time extension on his past-due account receivable. Note: Enter debits before credits. First, complete the table below to calculate the interest amount at December 31 , Year 1

Answer & Explanation Solved by verified expert

See Answer