Question

1)

Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following n

2)

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $969,0

3)

Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivable

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Answer #1

Calculate following

Note Due date Interest
a 10 April 40000*5%*90/360 = 500
b 15 September 18000*8%*180/360 = 720
c 5 July 90000*7%*30/360 = 525
d 7 December 36000*3%*90/360 = 270
e 19 January 27000*4%*60/360 = 180

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