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Sally's Shed had account balances in Accounts Receivable of $415.000 and in Allowance for Uncollectible Accounts of $800 (debit) before any adjustments on December 31.
Sally's Shed had account balances in Accounts Receivable of $415.000 and in Allowance for Uncollectible Accounts of $800 (debit) before any adjustments on December 31. An analysis on December 31 determined that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the end of period adjustment would be: O A $15.190 8 $15,800 OC $16,600 OD $17.400 8 points Save A Marco Manufacturing lends cash to the CEO on July 1, 2020 and accepts a $9,000 note receivable that offers 8% interest and is due in twelve months. How would Marco Manufacturing record the year-end adjustment to accrue interest on December 31, 2020? Interest Revenue Interest Receivable 600 On 600 360 Interest Receivable Interest Revenue 360 600 Interest Receivable Interest Revenue 600 300 Interest Receivable Interest Revenue 300 8 points Save Answer Marco Manufacturing lends cash to the CEO on July 1, 2020 and accepts a $9,000 note receivable that offers 8% interest and is due in twelve months. How would Marco Manufacturing record the year-end adjustment to accrue interest on December 31, 2020? 600 Interest Revenue Interest Receivable On 600 360 Interest Receivable Interest Revenue 360 600 Interest Receivable Interest Revenue 600 Interest Receivable 300 Interest Revenue 300
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