1) Determine the interest on the following notes:

(a) $5,000 at 6% for 90 days.

(b) $800 at 9% for 5 months.

(c) $6,000 at 8% for 60 days

(d) $1,600 at 7% for 6 months

2) The following data exists for Mather Company.

2017 2016

Accounts Receivable $ 80,000 $ 70,000

Net Sales 560,000 410,000

Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2017.