TB MC Qu. 07-145 (Algo) Winkler Company borrows... 13 Winkler Company borrows $88,000 and pledges its receivables as security. The joumal entry to record this transaction would be: 1 points Multiple Choice eBook Debit Cash of $88,000 and credit Accounts Receivable $68.000. Print References Debit Cash of $68,000 and credit Accounts Payable $80,000. Debit Notes Recevable s98,000 and credit Accounts Receivable $89.000. Debit Cash $88.000 and credit Notes Payable $89.000. Debit Accounts Receivable $89.000 and credit Notes Payable $82,000. TB MC Qu. 07-76 (Algo) A company borrowed... 11 A company borrowed $19.000 by signing a 180-day promissory note at 10%. The total Interest due on the maturity date is. (Use 360 days a year.) 1 points Multiple Choice eBook $95.00 Print Reference: $475.00 $950.00 $1.425.00 $1.900.00 14 A company borrowed $25.000 by signing a 90-day promissory note at 8%. The total to be paid at maturity of the note is: (Use 360 days a year.) nts Multiple Choice eBook $25.500.00 Print r L eferences $35,06250 $35,250.00 $35,750.00 $37,000.00 TB MC Qu. 07-141 (Algo) On February 1, a customer... 15 On February 1, a customer's account balance of $3,400 was deemed to be uncollectible. What entry should be recorded on February 1 to record the write-off assuming the company uses the allowance method? 1 points Multiple Choice eBook Debit Allowance for Doubtful Accounts $3,400: credit Bad Debts Expense $3,400. Print References O Debit Bad Debts Expense $3.400; credit Allowance for Doubtful Accounts $3,400 O Debit Accounts Receivable $3,400; credit Allowance for Doubtful Accounts $3,400. o o Debit Allowance for Doubtful Accounts $3,400: credit Accounts Receivable $3,400. Debit Bad Debts Expense $3.400; credit Accounts Receivable 53.400. 12 On July 9, Mifflin Company receives a $9.400, 90-day. 8% note from customer Payton Summers to replace an account recelvable. What entry should be made by Mifflin on July 9 to record receipt of the note? 1 points Multiple Choice eBook Debit Notes Receivable 59.589; credit Sales $9.589. Print References d O Debit Accounts Recevable-P.Summers $9.400: credit Sales $9,400. O Debit Notes Receivable 59.400: credit Accounts Receivable-P.Summers $9,400. a d Debit Notes Receivable $9.400: credit Sales $9.400. O Debit Notes Receivable 59.649: credit Interest Revenue $249; credit Accounts Receivable-P.Summers $9.400