6. Calculate the amount of interest that would be owed at maturity on a $20,000, 90-day notes receivable at 6%. (5pts) $295.89 (365 days) 7. The Nashville Co uses the percent of sales method of accounting for uncollectible accounts receivable. During the year, the following transactions occurred: (5 pts) Aug 7 It was determined that $1,200 of accounts receivable from the Crosby company was uncollectible, and it was written off. Oct 1 Dec 31 Crosby paid $1,000 of the amount owned. Nashville does not expect to receive any further collections. Nashville estimates that 2% of the $500,000 annual sales will be uncollectible. Record journal entries for the transactions above. No. - Date General Journal 8 M Debit Credit

6. Calculate the amount of interest that would be owed at maturity on a $20,000,90-day notes receivable at 6%. (Spts) 95.89 (365 days) 7. The Nashville Co uses the percent of sales method of accounting for uncollectible accounts receivable. During the year, the following transactions occurred: ( 5 pts) Aug 7 It was determined that $1,200 of accounts receivable from the Crosby company was uncollectible, and it was written off. Oct 1 Crosby paid $1,000 of the amount owned. Nashville does not expect to receive any further collections. Dec 31 Nashvile estimates that 2% of the $500,000 annual sales will be uncollectible. Record journal entries for the transactions above