James, inc., reported the following receivables in its Deceber 31, 2020, year-end balance sheet:

current assets:

Account receivable, net of $53,000 $385,000

in allowance for uncollectable account

interst receivable 19,700

notes receivable 420,000

1. The note receivable account consists of two notes: a $110,000 note and a $310,000 note. The $110,000 note is dated October 31, 2020, with principles and interests peoples on October 31, 2021. the $310,000 note is dated March 31, 2020 the principal and 8% interest payable on March 31, 2021.

2. during 2021 sales revenue total $2,130,000, $1,990,000 cash was collected from customers, and $42,000 in accounts receivable were written off. all cells are made on a credit basis. Bad debit expense is recorded at year-end gross account receivable.

1.(Calculate the interest revenue in bed debit expense amount that will appear in Jame's 2021 income statement)

2.(calculate the receivable turnover is for 2021 round your answer to the nearest 2 decimal place)

PROBLEM #5 (16 points) Shown below is the activity for one of the products of Tampa Office Equipment: January 1 balance, 550 units @ $60 per unit Purchases: January 10: 450 units @ $65 per unit January 20 1,100 units @ $57 per unit Sales: January 12: 950 units January 28: 800 units Required: Compute the January 31 ending inventory and cost of goods sold (COGS) for January, assuming Tampa uses: 1) Periodic average cost 2) Periodic LIFO 3) Perpetual FIFO 4) Perpetual LIFO (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)