18. You loaned $20,000 to an employee and received a Note Receivable in return. This note matures in 90 days and earns 6% interest. What is the maturity value of the note? 19. You had total sales of $1,000,000 for 2016, of which $200,000 were cash sales and the rest were on account. Prior year results indicate that 3% of your credit sales will become uncollectible, and therefore become a bad debt. At December 31, 2016, your Allowance for Doubtful Accounts account has a debit balance of $2,400. Using the percentage of sales method to account for bad debts, make the adjusting entry below, needed at December 31, 2016. Account Debit Credit X X BONUS: On the basis of the following data, determine the estimated cost of the inventory as of February 28 by using the Retail Method. *Show your work. Feb.1st Merchandise Inventory Feb 20th Purchases (net) Feb 28th Sales (net) Cost Retail $30,000 $45,000 330,000 555,000 580,000