The following selected transactions are from OhlmeyerCompany.
2012
Dec. 16 Accepted a $10,800, 60-day, 8% note dated this day ingranting Danny Todd a time extension on his past-due accountreceivable.
Dec. 31 Made an adjusting entry to record the accrued intereston the Todd note.
2013
Feb. 14 Received Todays payment of principal and interest on thenote dated December 16.
Mar. 2 Accepted an $6,100, 8%, 90-day note dated this day ingranting a time extension on the past-due account receivable fromMidnight Co.
Mar.17 Accepted a $2,400, 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.June 2 Midnight Co. refuses to pay the note that was due toOhlmeyer Co. on
May 31. Prepare the journal entry to charge the dishonored noteplus accrued interest to Midnight Co.s accounts receivable.
July 17 Received payment from Midnight Co. for the maturityvalue of its dishonored note plus interest for 46 days beyondmaturity at 8%.
Aug. 7 Accepted an $7,450, 90-day, 10% note dated this day ingranting a time extension on the past-due account receivable ofMulan Co. Sept. 3 Accepted a $2,100, 60-day, 10% note dated thisday in granting Noah Carson a time extension on his past-dueaccount receivable.
Nov. 2 Received payment of principal plus interest from Carsonfor the September 3 note.
Nov. 5 Received payment of principal plus interest from Mulanfor the August 7 note.
Dec. 1 Wrote off the Privet account against Allowance forDoubtful Accounts
The following selected transactions are from OhlmeyerCompany.
2012
Dec. 16 Accepted a $10,800, 60-day, 8% note dated this day ingranting Danny Todd a time extension on his past-due accountreceivable.
Dec. 31 Made an adjusting entry to record the accrued intereston the Todd note.
2013
Feb. 14 Received Todays payment of principal and interest on thenote dated December 16.
Mar. 2 Accepted an $6,100, 8%, 90-day note dated this day ingranting a time extension on the past-due account receivable fromMidnight Co.
Mar.17 Accepted a $2,400, 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.June 2 Midnight Co. refuses to pay the note that was due toOhlmeyer Co. on
May 31. Prepare the journal entry to charge the dishonored noteplus accrued interest to Midnight Co.s accounts receivable.
July 17 Received payment from Midnight Co. for the maturityvalue of its dishonored note plus interest for 46 days beyondmaturity at 8%.
Aug. 7 Accepted an $7,450, 90-day, 10% note dated this day ingranting a time extension on the past-due account receivable ofMulan Co. Sept. 3 Accepted a $2,100, 60-day, 10% note dated thisday in granting Noah Carson a time extension on his past-dueaccount receivable.
Nov. 2 Received payment of principal plus interest from Carsonfor the September 3 note.
Nov. 5 Received payment of principal plus interest from Mulanfor the August 7 note.
Dec. 1 Wrote off the Privet account against Allowance forDoubtful Accounts