R&A Co. has the following account information after all transactions have been recorded and posted: Accounts Receivable: $37.800 Bad Debt Expense: $5,800 Allowance for Doubtful Accounts: S6,100 What is the cash realizable value of accounts receivable? a) $37,800 b) $31,700 c) $32,000 On July 1 of the current year, NS Co. borrows $35,000 from the bank in exchange for a 6-month, 9% note payable. The note matures on January 1 the following year, in which principal and interest are due. Assume NS Co. has a year-end of December 31. How would NS Co. report the note payable and any related interest on its December 31 financial statements? a) Balance Sheet: Income Statement: Note Payable $35,000 Interest Expense $1,575 Interest Payable $1,575 b) Balance Sheet: Income Statement: Note Payable $38,150 Interest Expense $38,150 c) Balance Sheet: Income Statement: Note Payable $36,575 Interest Expense $35,000 Interest Payable $1,575 Balance Sheet: Note Payable $3,150 Income Statement: Interest Expense $3,150