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Problem 9-5A Analyzing and journalizing notes receivable transactions LO C2, C3, P4 The following selected transactions are from Ohlm Company. (Use 360 days a year.) 2016 Dec. 16 Accepted a $13,300, 60-day, 104 note dated this day 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. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Mar. 2 Accepted ain) $6,900, 109, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted ain) $2,100, 30-day, 7 note dated this day in granting Ava Privet a tine extension on her past-due account receivable. 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 note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 18%. Aug. 7 Accepted ain) $8,400, 90-day, 84 note dated this day in granting a time extension on the past due account receivable of Mulan Co. Sep. 3 Accepted ain) $3,260, 60-day, 10 note dated this day 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. S 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare you ournal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required A 15 C 1D First, complete the table below to calculate the interest amount at December 31, 2016. Total interest Throug Recognized December Maturity Principal Rate(%) Time Total interest Required 10 > time extension on her past-due account receivable. 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 note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received paynent from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 101. Aug. 7 Accepted ain) $8,400, 90-day, 8 note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted ain) $3,260, 60 day, 10 note dated this day 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 fron Mulan for the August 7 note Dec. 1 wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1D Use the calculated value to prepare your journal entries for 2016 transactions. View transaction list Journal entry worksheet J U ULUH LIL RUYUL TULE Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B 1C 1D Use the calculated value to prepare your journal entries for 2016 transactions. View transaction list Journal entry worksheet 2, C3, P4 me following selected transactions are from Ohlm Company. (Use 360 days a year.) 016 ec. 16 Accepted a $13,300, 60-day, 109 note dated this day 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. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Har 2 Accepted ain) $6,900, 109, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted ain) $2,100, 30-day, 7 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohin Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 104. Aug. 7 Accepted ain) $8,400, 90-day, 8 note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted ain) $3,260, 60-day, 109 note dated this day 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 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D First, complete the table below to calculate the interest amounts. Total Through M y Midnight A Privet Mulan Midnight N. Carson Co. Note Note Note Co. Note Note March 2 March 17 August May 31 September 3, 2017 Regulired 1 Required 10 > May 3I NIUNIE 18. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 10%. Aug. 7 Accepted a(n) $8,400, 90-day, 8% note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $3,260, 60-day, 104 note dated this day 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31. 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D 1B Use those calculated values to prepare your journal entries for 2017 transactions. View transaction list Journal entry worksheet time extension on her past-due account receivable. 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 note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received paynent from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 101. Aug. 7 Accepted ain) $8,400, 90-day, 8 note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted ain) $3,260, 60 day, 10 note dated this day 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 fron Mulan for the August 7 note Dec. 1 wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1D Use the calculated value to prepare your journal entries for 2016 transactions. View transaction list Journal entry worksheet J U ULUH LIL RUYUL TULE Dec. 1 Wrote off the Privet account against the Allowance for Doubtful Accounts. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B 1C 1D Use the calculated value to prepare your journal entries for 2016 transactions. View transaction list Journal entry worksheet 2, C3, P4 me following selected transactions are from Ohlm Company. (Use 360 days a year.) 016 ec. 16 Accepted a $13,300, 60-day, 109 note dated this day 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. 2017 Feb. 14 Received Todd's payment of principal and interest on the note dated December 16. Har 2 Accepted ain) $6,900, 109, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. 17 Accepted ain) $2,100, 30-day, 7 note dated this day in granting Ava Privet a time extension on her past-due account receivable. Apr. 16 Privet dishonored her note when presented for payment. May 31 Midnight Co. refused to pay the note that was due to Ohin Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 104. Aug. 7 Accepted ain) $8,400, 90-day, 8 note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted ain) $3,260, 60-day, 109 note dated this day 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 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31, 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions. Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D First, complete the table below to calculate the interest amounts. Total Through M y Midnight A Privet Mulan Midnight N. Carson Co. Note Note Note Co. Note Note March 2 March 17 August May 31 September 3, 2017 Regulired 1 Required 10 > May 3I NIUNIE 18. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.'s accounts receivable. July 16 Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 10%. Aug. 7 Accepted a(n) $8,400, 90-day, 8% note dated this day in granting a time extension on the past-due account receivable of Mulan Co. Sep. 3 Accepted a(n) $3,260, 60-day, 104 note dated this day 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. Required: 1-a. First, complete the table below to calculate the interest amount at December 31. 2016. 1-b. Use the calculated value to prepare your journal entries for 2016 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 2017 transactions Complete this question by entering your answers in the tabs below. Required Required Required Required 1A 1B1C1D 1B Use those calculated values to prepare your journal entries for 2017 transactions. View transaction list Journal entry worksheet

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