CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 6 Answer saved Marked out of 300 P Flag question Computing Accrued Interest Compute the interest accrued on each of the following notes receivable held by Kierland, Inc., on December 31: (Round to the nearest dollar.) Date of Interest Maker Note Principal Rate Term Abel November 21 $36,000 12% 120 days Baker December 13 32.000 99,90 days Charlie December 19 42,000 6% 60days Abel Baker Charie Assign QUESTION 8 Not yet answered Marked out of 100lag question What would be the Net Realizable Value of Harris Company's Accounts Receivable at year e adjusting entry for bad debts has been recorded? Select one: O a. 434,500 O b. 403,900 nd, after the Finish c. 465,100 d. 444,400 Save Answers Previous page Next page QUESTION 7 Answer saved Marked out of 1.00 Flag question Assig Use the following information to answer the next two questions: Harris Company uses the allowance method of handling its credit losses. It estimates credit losses at 1.5% of credit sales, which were $2,700,000 during the year. On December 31, the Accounts Receivable balance was $475,000, and the Allowance for Doubtful Accounts had a balance of $30,600 before adjustment. Indicate the effect (increase / decrease) that recording the bad debt expense for the year will have on the company's assets, liabilities, and equity, respectively AssetsLiabilitiesEquity Finish Select one: o a. Decrease, No Change, Decrease O b. Increase, No Change, Decrease C. Increase, No Change, Increase O d. Decrease, Decrease, No Change e. Increase, Decrease, Increase My Subscriptions/Courses ACCT 209: Survey of Accounting Principles Chapter 8 / HW Assignment 7 (Chapter QUESTION 8 Not yet answered Marked out of 100g question What would be the Net Realizable Value of Harris Company's Accounts Receivable at year end, after the adjusting entry for bad debts has been recorded? Select one: a. 434,500 b. 403,900 C.465,100 d. 444,400 Fir Save Answers Previous page Next page