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13 The maturity date of a note receivable: OIs the day the note is due to be repaid. Is the last day of the month.
13 The maturity date of a note receivable: OIs the day the note is due to be repaid. Is the last day of the month. Is the day the note was signed. Is the day of the credit sale QUESTION 14 On February 1, a customer's account balance of $2,300 was deemed to be uncollectible. What entry should be recorded on February 1 to record the write-off assuming the company uses the allowance method? O Debit Bad Debts Expense $2,300; credit Accounts Receivable $2,300 Debit Allowance for Doubtful Accounts $2,300; credit Cash $2,300 Debit Bad Debts Expense $2,300; credit Allowance for Doubtful Accounts $2,300 Debit Allowance for Doubtful Accounts $2,300; credit Accounts Receivable $2,300 QUESTION 15 How much interest will be paid on a $1,000, 60-day note at 6% interest? $1,000 O $60 $10 $6
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