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Hello please help me to solve these questions. If a company loans money in exchange for a multi-year note, and interest on that note is
Hello please help me to solve these questions.
If a company loans money in exchange for a multi-year note, and interest on that note is due when the principle comes due, which of the following will the company record at every period end between the day of the original loan and day the note is repaid? O A. Debit Interest Receivable B. Debit Cash OC. Credit Interest Payable OD. Credit Interest Revenue A company has the following information related to Receivables: Description Amount $242699 Accounts Receivable, Beginning of Period Allowance for Doubtful Accounts, Beginning of Period $13414 Total Sales $250329 Cash Sales $130745 A/R Collections from Customers $68081 Write-Offs $3782 (Note: Enter Assuming the company will use 15% of receivables to estimate its bad debts, how much bad debt expense will the company record in the current period? $ numbers only; no symbols, spaces, commas, etc. Round final answer to the nearest whole number.) Match each account or phrase to its description. A. The amount of total A/R the company expects to collect from its customers. B. The amount of total A/R the company does not expect to collect from customers. C. The total amount of money customers owe the company. D. The amount of estimated uncollectibles the company records in a given period. select 1. Allowance for Doubtful Accounts select 2. Bad Debt Expense select 3. Net Accounts Receivable select 4. Gross Accounts ReceivableStep by Step Solution
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