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AC211-This is your Midterm Comprehensive Assignment. Please follow the instructions explicitly. Enter only those fields that are highlighted in yellow. DO NOT alter any other

AC211-This is your Midterm Comprehensive Assignment. Please follow the instructions explicitly. Enter only those fields that are highlighted in yellow. DO NOT alter any other fields as formulas will be affected and this will DO NOT ADD ANY FIELDS, ROWS OR COLUMNS TO THIS SPREADSHEET. USE FORMULAS AND LINK CELLS FOR FULL MARKS-DO NOT USE A CALCULATOR TO INPUT CALCULATIONS, USE EXCEL INSTRUCTIONS: STEP 1: INPUTS-Enter numbers in the yellow highlighted fields following the instructions. Sales Revenue: Enter a number between 600,000 and 900,000 Accounts Receivable: Enter a number between 90,000 and 100,000 Cost of Goods Sold: Calcutate a number between 40% and 50% of Sales Revenue Fixed Asset: Enter a number between 100,000 and 150,000 Accounts Payable: Enter a number between 10,000 and 25,000 Allowance for Doubtful Accounts: Enter a percentage between 3% and 5% Notes Payable: Enter a number between 75,000 and 90,000 Bond Payable Enter a number between 100,000 and 200,000 STEP 2: CALCULATIONS 2A) Calculate Depreciation on the Fixed Asset number you chose in cell C10, using the Units of Production Method. Show your resulting calculation for 2022-2025 in the appropriate boxes in this spreadsheet. Do not make any form. Units of Production Method Depreciation Calculation. 28) Calculate simple Interest on your Note Payable at a rate of interest is accrued quarterly. What is the interest Payable for 1 quarter What is the interest payable to date (i.e. up to Dec 31) What is the total payable on the note including interest at Dec 31, 2022 Sunny Step 3: JOURNAL ENTRIES Year 2022 2023 2024 2025 Cost Useful life is Q Search Depreciation Expense Accumulated Depreciation 4 years 5.00% The Note was taken out on February 1, 2022 and will be paid back on Jan 31, 2023 in full including all int Book Value FA 1

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