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Problem 8-6A Farwell Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable Interest Receivable $41,400 276 Notes Receivable include

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Problem 8-6A Farwell Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable Interest Receivable $41,400 276 Notes Receivable include the following Maker Term Interest Date Aug. 16 Aug. 25 Sept. 30 Face $15,600 60 days K. Goza Inc. Holt Co Noblitt Corp 9,000 60 days 16,800 6 months 10% 9% 11% Interest is computed using a 360-day year. During October, the following transactions were completed Oct. 7 Made sales of $6,700 on Farwell credit cards 12 Made sales of $900 on MasterCard credit cards. The credit card service charge is 2% 15 Added $460 to Farwell customer balances for finance charges on unpaid balances 15 Received payment in full from K. Goza Inc. on the amount due 24 Received notice that the Holt note has been dishonored. (Assume that Holt is expected to pay in the future.)

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