Part 1.

On January 1, a company lends a corporate customer $138,000 at 6% interest. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:

A; $8,280. B: $2,070. C: $690. D: $2,760.

Part. 2

On July 1, 2016, Empire Inc. lends $15,600 to a customer and receives a 10% note due in two years. Interest is due in full on July 1, 2018, the due date of the note. What is the amount of Interest Revenue that will be reported on Empires income statement for the year ended December 31, 2016?

A: $780. B: $910. C: $1,560. D: $3,120.

Part 3.

On the maturity date of a $4,800, 9-month, 10% note, the borrower sends a check that includes the principal and all of the interest due on the note. What is the amount of the borrowers check?

A; $5,160 B: $5,280 C: $9,120 D : $4,800

Part 4

The Treadwell Tire Company had net accounts receivable of $64,300 at the beginning of the year and $74,200 at the end of the year. If the company's net sales revenue during the year was $912,875, what is the receivables turnover ratio?

A; 0.0759 times. B ;12.30 times. C : 0.0108 times. D: 13.18 times.

Part 5

The Perry Company reported Accounts Receivable, Net of $65,600 at the beginning of the year and $73,100 at the end of the year If the company's net sales revenue during the fourth year was $886,000, what are the days to collect during year? (Round your intermediate calculation and final answer to 1 decimal place. Use 365 days in a year):

A: 8.2 days. B: 12.1 days. C: 30.1 days. D: 28.6 days