On December 1, 2018, Modern Dining Products borrowed $87,000 on a 9%, 8year note with annual installment payments of $10,875 plus interest due on December 1 of each succeeding year. On December 1, the principal amount was recorded as a longterm note payable. What amount of the note payable will be shown as current portion of LongTerm Note Payable on the balance sheet as of December 31, 2018? (Round your answer to nearest whole number.)

A.$21,750

B.$7,830

C.$10,875

D.$18,705

On January 1, Five Star Services has the following balances:

Accounts Receivable $27,000 (debit)

Bad Debts Expense$0

Five Star Services has the following transactions during January: Credit sales of $110,000, collections of credit sales of $88,000, and writeoffs of $15,000. Five Star Services uses the direct writeoff method. At the end of January, the balance of Accounts Receivable is ________.

A.$49,000

B.$18,750

C.$34,000

D.$12,000