14 STV Company accepts from UVW Company a $20,000, 3-month, 7% note receivable in settlement of UVWs account receivable with STV. Interest is due at maturity of the note. What journal entry is made by STVat maturity of the note (assuming it is honoured)?

a. Cash 20,350

Note Receivable - UVW Company 20,000

Interest Revenue. 350

b. Cash 20,350

Note Receivable - UVW Company.. 20,350

c. Cash 21,400

Note Receivable - UVW Company. 20,000

Interest Revenue 1,400

d. Account Receivable - UVW Company. 20,350

Note Receivable - UVW Company. 20,000

Interest Revenue 350

e. Cash. 21,400

Note Receivable - UVW Company 21,400

16 .The journal entry to record the purchase (on account) of merchandise for resale of $10,000, plus HST of 13% (assuming a periodic inventory system) is:

a. Purchases 10,000

HST Payable.. 1,300

Accounts Payable. 11,300

b. Purchases 11,300

Accounts Payable.. 11,300

c. Purchases. 10,000

HST Recoverable. 1,300

Accounts Payable.. 11,300

d. Merchandise Inventory. 10,000

HST Recoverable 1,300

Accounts Payable 11,300

e. Purchases 11,300

HST Recoverable. 1,300

Accounts Payable.. 10,000

19, Nguyen Company had $250,000 of Accounts Receivable and a $7,500 credit balance in its Allowance for Doubtful Accounts account just prior to writing off a $2,000 uncollectible account of a customer. After the write-off, the carrying amount (NRV-Net Realizable Value) of the companys Accounts Receivable would be:

a. $242,500

b. $240,500

c. $244,500

d. $248,000

e. None of the above.

13. On March 1, 2022, Ridham Bhalla purchased a suit at Moores Clothing Store. The suit cost $350 and Ridham used his Moores credit card. Credit terms are 24% interest rate per year and payment is due n/30 (without charging interest). On April 30, 2022, Ridham had not yet made his payment. What journal entry should Moores make on April 30, 2022?

a. Uncollectible Accounts Receivable.. 350

Accounts Receivable - Ridham Bhalla 350

b. Bad Debts Expense.. 343

Interest Expense 7

Accounts Receivable - Ridham Bhalla 350

c. Accounts Receivable - Ridham Bhalla. 357

Sales. 350

Interest Revenue 7

d. Accounts Receivable - Ridham Bhalla 7

Interest Revenue 7

e. None of the above.

14 . STV Company accepts from UVW Company a $20,000, 3-month, 7% note receivable in settlement of UVWs account receivable with STV. Interest is due at maturity of the note. What journal entry is made by STV at maturity of the note (assuming it is honoured)?

a. Cash 20,350

Note Receivable - UVW Company 20,000

Interest Revenue. 350

b. Cash 20,350

Note Receivable - UVW Company.. 20,350

c. Cash 21,400

Note Receivable - UVW Company. 20,000

Interest Revenue 1,400

d. Account Receivable - UVW Company. 20,350

Note Receivable - UVW Company. 20,000

Interest Revenue 350

e. Cash. 21,400

Note Receivable - UVW Company 21,400