14. Jasper makes a S25 000, 90 day, 7% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: A. Debit Cash for $25,000; credit Notes Receivable $25,000 -K. Debit Cash $25,437.50, credit Interest Revenue $437.50, credit Notes Receivable $25,000. Debit Cash $25,437.50; credit Notes Receivable for $25,437.50. D. Debit Notes Payable $25,000; Debit Interest Expense $1,750; credit Cash $26,750. 15. Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. what entry should Jervis make on June 28 to record the deposit? A. Debit Cash $3,500; credit Sales $3,500 B. Debit Accounts Receivable $3,500; credit Sales $3,500 C. Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 D. Debit Cash S3,395; debit Credit Card Expense $105; credit Sales $3,500 16. A year, the company's unzdjusted trial balance reported the following selected amounts: company uses the percent of sales method to determine its bad debts expense. At the end of the current $375.000 debit 500 debit 800,000 credit Accounts receivable Allowance for uncollectible accounts Net Sales uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is A. $1,275 pre All sales are made on credit. Based on past experience, the company estimates that 06% of credit sales are B. $1,775 C. $4,500 D. $4,800 One characteristic of plant assets is that they are: A. Current assets. B. Used in operations. C. Natural resources D. Long-term investments. 18. Salvage value is: A. Not a factor relevant to determining depletion. B. A factor relevant to amortizing an intangible asset with an indefinite life. C. An estimate of the asset's value at the end of its benefit period D. A factor relevant to determining depreciation under MACRS