2016 2015

accounts receivable 5,515 5,220

alloqance for doubtful accounts (345) (350)

accounts reciveable, 5,170 4,870

net of allowance

net sale (assume all on credit) 42,500 41,000

Determine the receivables turnover ratio and days to collect for 2016.(Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.)

To attract retailers to its shopping center, the Marketplace Mall will lend money to tenants under formal contracts, provided that they use it to renovate their store space. On November 1, 2017, the company loaned $95,000 to a new tenant on a one-year note with a stated annual interest rate of 9 percent. Interest is to be received by Marketplace Mall on April 30, 2018, and at maturity on October 31, 2018.

Prepare journal entries that Marketplace Mall would record related to this note on the following dates: (a) November 1, 2017; (b) December 31, 2017 (Marketplace Mall's fiscal year-end); (c) April 30, 2018; and (d) October 31, 2018.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entry for the following:

record the interest accrued on the notes as of December 31, 2017.

record the receipt of interest for the period ending April 30, 2018.

record the receipt of the interest on the notes maturity date.

record the receipt of the payment for the full principal.