Prepare journal entries to record the following selected transactions of Calio Co. Mar 21 accepted a $17,200, 180-day, 7% note dated March 21 from James Penn in granting a time extension on his past-due account receivable. Sept 17 Penn dishonors his note when it is presented for payment. Dec 21 after exhausting all legal means of collection. Calio Co. writes off Penn's account against the Allowance for Doubtful Accounts.