On June 8, Williams Company issued an $81,217, 8%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $83,383 Ob. $6,497 Oc. $87,714 Od. $81,217 On July 8, Jones Inc. issued an $78,900, 9%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar. Oa. $908 Ob. $7,101 Oc. $1,362 Od. $454 Martinez Co. borrowed $55,041 on March 1 of the current year by signing a 60-day, 7%, interest-bearing note. Assuming a 360-day year, when the note is paid on April 30, the entry to record the payment should include a Oa. debit to Interest Payable for $642. Ob. debit to Interest Expense for $642. Oc. credit to Cash for $55,041. Od. credit to Cash for $58,894. Martin Jackson receives an hourly wage rate of $16, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $302; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson? a. $1,045.20 Ob. $423.20 Oc. $1,111.20 Od. $784.00 Hall Company sells merchandise with a one-year warranty. In the current year, sales consisted of 3,813 units. It is estimated that warranty repairs will average $15 per unit sold, and 30% of the repairs will be made in the current year and 70% in the next year. In the current year's income statement, Hall should show warranty expense of Oa. $0 Ob. $40,037 Oc. $17,159 Od. $57,195