Sullivan Equipment Sales showed the following.

2020

Jan.15 Sold $25,250 of merchandise for $29,500 to Jan Co; terms 3/5, n/15.

Jan.16 Wrote off Fedun's account in the amount of $15,250.

Jan. 20 Collected the amount owing from the January 15 sale

Mar.1 Accepted a $12,100, 60-day, 7% note dated this day in granting Parker Holdings a time extension on its past due account.

Apr.15 Sold merchandise costing $62,250 for $71,500 to customers who used their Visa credit cards. Visa charges a 1% fee and deposits the cash electronically into the retailer's account immediately at the time of sale.

? Parker Holdings honoured the note dated March 1.

Nov.1 Accepted a $24,500, three-month, 6% note dated this day in granting Grant Company a time extension on its past-due account.

Dec.31 Sullivan's year-end. Interest was accrued on outstanding notes receivable.

Dec. 31 Bad debts are based on an aging analysis that estimated $9,700 of accounts receivable are uncollectible. Allowance for Doubtful Accounts showed an unadjusted credit balance of $1,625 on this date.

2021

? Grant Company dishonoured its note dated November 1, 2020.

Mar. 5 Recovered $1,500 from Derek Holston that was previously written off.

Mar. 14 Wrote off the Grant Company account.

Required:

a. Determine the maturity dates of the March 1 and November 1 notes.

b. Prepare entries as appropriate for each date.

c. Analysis Component: Sullivan's receivable turnovers at December 31, 2020 and 2021 were 7 and 7.5, respectively. Select the correct option for whether the change in the ratio for Sullivan was favourable or unfavourable.