Accounts Receivable

Perform the following exercises in which you must analyze the methods to evaluate accounts receivable, perform notes receivable exercises and define the different types of accounts receivable: 1. Define and explain short-term and long-term accounts receivable. 2. Equipos y Mas a is an electronic equipment company and had several notes receivable. Journalizes the entries of the following accounts receivable: Date Transaction Feb 10 A note payable for $ 150,000 was received with a 4% term and 60 days to pay. March 12 A note payable for $ 185,000 was received with a 6% term and 120 days to pay. April 3 Received $ 150,984 of the February 10 note payable. May 16 A note payable of $ 125,000 was received with a 5% term and 40 days to pay. June 2 $ 188,640.80 was received from the March 12 note payable. Oct 11 A note payable of $ 210,000 was received with a term of 8% and 90 days for payment. Nov 11 $ 214,126.08 was received from the October 11 account payable