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problem K. please (25800-7500/120,000) x 2240) 336. J. Accrue the interest on the short-term notes receivable. Calculate the interest to the nearest cent. Use the
problem K. please (25800-7500/120,000) x 2240) 336. J. Accrue the interest on the short-term notes receivable. Calculate the interest to the nearest cent. Use the 360-day banker's year for all interest computations and record a single adjusting entry for the short-term interest. Note Receivable: $10,000, 9.0%, 60-day note, dated June 22 K. The $10,000.00 balance in the Long-Term Note Payable account is the balance owing from a $100,000.00, 6% note that requires quarterly payments of $5,000.00 plus accrued interest on the unpaid balance. The $5,000.00 payments, plus accrued interest from the previous quarter, are made the first day of January, April, July, and October of each year. Accrue the quarterly interest on the $10,000.00,6%, long-term notes payable. L. Additional income taxes expense for the period total $2,520.00 M. The balance sheet (computer aging) method is used to estimate the balance of the Allowance for Doubtful Accounts account for the end of each quarter. The program has analyzed all accounts receivable and calculated the estimated balance of the account to be $2,190.50. 2196 so-1475=715.5 Granita Rav let Ski. Incorporated, has experienced small shortages (shrinkage) in
problem K. please
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