and select the corresponding oval. DQuestion 1 1 pts When a note receivable is dishonored, it reverts to an account receivable. O True O False D Question 2 1 pts The notes receivable account of a business should include both the notes that have not yet matured and the dishonored notes. O True O False D Question 3 1 pts The banker's rule simplifies interest computations by treating a year as having 365 days. O True O False DI Question 4 1 pts On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. Compute the amount due at maturity for the note. (Use 360 days a year.) O $8,670 O $8,613 $8,192 o $8,500 $8,628 t, Question 5 1 pts Failure by a promissory notes' maker to pay the amount due at maturity is known as: O Dishonoring a note. O Closing a note. O Discounting a note. O Protesting a note. O Depreciating a note. DQuestion 6 1 pts A 90-day note issued on April 10 matures on: O July 13. O July 11. O July 9 O July 10. O July 12. DQuestion 7 1 pts Honoring a note receivable indicates that the maker has: O Notarized. O Cosigned. O Signed O Guaranteed O Paid in full. D Question 8 1 pts A company received al$15,000, 90-day. 10% note receivable. The journal entry to record receipt of the note includes a debit to Notes Receivable. O True O False DQuestion 9 1 pts The maturity date of a note refers to the date the note must be repaid. O True O False D Question 10 1 pts A promissory note received from a customer in exchange for an account receivable is i recorded by the payee as: O A cash equivalent. O A note payable. O An account receivable. O A short-term investment. O A note receivable