Question 8-19 A Financial Managerial Accounting xMicroeconomics2e-OP.pdfPDFPDF->O File | C:/Users/Sexy%20girl%20Keisha/Downloads/Financial%20%20Managerial%20Accounting%20by%20Carl%20S.%20.. *Not syncing...of 1474+| A) Read aloud V DrawF HighlightO Erase447$ 715,0001%0-30 days31-60 days61-90 days91-120 days310,0002102.0001576,0003097,000More than 120 daysTotal receivables60$1,300,000A. Journalize the write-offs under the direct write-off method.B. Journalize the write-offs and the year-end adjusting entry under the allowance method,assuming that the allowance account had a beginning balance of $95,000 and the com-pany uses the analysis of receivables method.C. How much higher (lower) would Seaforth International's net income have been under theallowance method than under the direct write-off method?Obj. 6VA. May 2, $1,600 Determine the due date and the amount of interest due at maturity on the following notes:EX 8-19 Determine due date and interest on notesDate of NoteFace AmountInterest RateTerm of Note$80,000January 3*February 20*May 24August 30October 4A.6%27,00062,50030,000120 days30 days45 days90 days90 daysВ.4SHOW ME HOWEXCEL TEMPLATEC.8.D.5E.40,0007* Assume a leap year in which February has 29 days.EX 8-20 Entries for notes receivableObj. 6V B. $61,000 Valley Designs issued a 120-day, 5% note for $60,000 dated April 15 to Bork Furniture Companyon account.A. Determine the due date of the note.SHOW ME HOW B. Determine the maturity value of the note.C. Journalize the entries to record the following: (1) receipt of the note by Bork Furniture and(2) receipt of payment of the note at maturity.2:29 AMO Type here to searcha11/14/202023

Interest:- Interest(In accounting terms) is the excess amount that is paid for taking a certain…

Answered: Determine due date and interest on…

Business

Accounting

Determine due date and interest on notes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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