On August 1, 2013, Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $163,565. The note is due in 90 days and has an interest rate of 7%. What would be the appropriate journal entry to record the receipt of cash at the maturity date? 163,565 Cash Notes Receivable 163,565 Cash Interest Receivable Notes Receivable 163,565 2,862.39 166,427.39 Notes Receivable Accounts Receivable 163,565 163,565 166,4274 Cash Interest Revenue Notes Receivable 2,862.39 163,565 Notes Receivable Interest Revenue Cash 163,565 2,862.39 166,427.39 Ace Credit Card Company agrees to transfer cash to Seller Company immediately upon deposit of that company's credit card sales receipts. Ace charges a 2% fee for all credit card sales. If Seller Company deposits $57,300 credit card sales receipts, which of the following statements are true? Seller Company will receive cash $56,154 from Ace. Ace will pay Seller Company a $1,146 credit card fee. O Ace will receive $57,300 cash from Seller Company. O Seller Company will receive $57,300 cash from Ace. O Ace will receive $56,154 cash from Seller Company. A company had an accounts receivable turnover ratio of 8.5 and net sales of $361,250 for a given period. What was the average amount of accounts receivables for this period? Multiple Choice $85.74 $42,500 Cannot Be Determined O $3,070,625 O $4,213.33