1. The party to a promissory note that agrees to repay money on the maturity date of the note is called the

a.lender.

b.maker of the note.

c.recipient of the note.

d.payee of the note.

2. Mellon Corporation The data presented below are for Mellon Corporation for the year ended December 31, 2017:

Sales (100% on credit)	$1,500,000
Sales returns	60,000
Accounts receivable (December 31, 2017)	250,000
Allowance for doubtful accounts (credit balance) (before adjustment at December 31, 2017)	3,000
Estimated amount of uncollectible accounts based on an aging analysis	31,000

Refer to the information for Mellon Corporation. If Mellon uses the aging of accounts receivable approach to estimate its bad debts, what will be the net realizable value of its accounts receivable after the adjustment for bad debts expense?

a.$250,000

b.$222,000

c.$216,000

d.$219,000