The following transactions are from Ohlm Company. Note: Use 360 days a year. Year 1 December 16 Accepted a(n) $14, 600, 60-day, 7% note in granting Danny Todd a time extension on his past - due account receivable. 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 December 16. March 2 Accepted a(n) $7,600, 7%, 90-day note in granting a time extension on the past - due account receivable from Midnight Company. March 17 Accepted a $ 2,700, 30-day, 7% note in granting Ava Privet a time extension on her past - due account receivable. April 16 Privet dishonored her note. May 31 Midnight Company dishonored its note. August 7 Accepted a(n) $7,050, 90-day, 11% note in granting a time extension on the past - due account receivable of Mulan Company. September 3 Accepted a $2,850, 60-day, 8% note in granting Noah Carson a time extension on his past - due account receivable. November 2 Received payment of principal plus interest from Carson for the September 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. Use those calculated values to prepare your journal entries for Year 2 transactions. \table [[No, Date,General Journal,,Debit,Credit], [1, February 14, Cash,✓, 14, 723 x, ], [, Notes receivable-D. Todd,✓,, 14, 600vv

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