Ph BUSI 1043_Formative U x + V pring/BBA/BUSI_1043/ON-CAMPUS/Resources/BUS1%201013 Formative_Unit Exercises.pdf Unit Exercises 4 Question 1 Multi Media Ltd. completed the following transactions: September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days. November 1, 2016: Accepted a one year, 12% note from Inga Corporation to settle its account. December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar) November 1, 2017: Received amount due from Inga Corporation 1. Record entries for the above transactions. Question 2 1. Compute the unknowns for the following transactions dealing with interest on notes receivable. 365 days per year. Round your answers to the nearest dollar. Interest Interest Value Maturity Principal Rate $10.000 $25,000 Duration 120 days 110N 180 days 60 days $2,515 $2,959 $493 $50.000 $36.000 Question 3 Dunder Mifflin had the following balances in selected accounts at the end of 2015 and 2016 2015 $5 00 2016 $45.000 4 000 Short-term investments Accounts receivable Allowance for collectible 5.000 counts ZROK Ph BUSI 1043_Formative U x + V pring/BBA/BUSI_1043/ON-CAMPUS/Resources/BUS1%201013 Formative_Unit Exercises.pdf Unit Exercises 4 Question 1 Multi Media Ltd. completed the following transactions: September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days. November 1, 2016: Accepted a one year, 12% note from Inga Corporation to settle its account. December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar) November 1, 2017: Received amount due from Inga Corporation 1. Record entries for the above transactions. Question 2 1. Compute the unknowns for the following transactions dealing with interest on notes receivable. 365 days per year. Round your answers to the nearest dollar. Interest Interest Value Maturity Principal Rate $10.000 $25,000 Duration 120 days 110N 180 days 60 days $2,515 $2,959 $493 $50.000 $36.000 Question 3 Dunder Mifflin had the following balances in selected accounts at the end of 2015 and 2016 2015 $5 00 2016 $45.000 4 000 Short-term investments Accounts receivable Allowance for collectible 5.000 counts ZROK