TB MC Qu. 07-73 (Algo) The Interest accrued... 6 The interest accrued on $7.200 at 7% for 45 days is: (Use 360 days a year.) 1 points Multiple Choice eBook $252 Print Reference: O $50. o $598 O $59. O $63. TB MC Qu. 07-135 (Algo) On July 9, Mifflin Company recelves... 7 On July 9, Mifflin Company recelves an $8,900.90-day, 12% note from customer Payton Summers to replace an account recevable. What entry should be made by Mifflin on the maturity date assuming the maker pays In full, and no adjusting entries have been made related to the note? (Use 360 days a year.) 1 points Multiple Choice eBook Debit Cash $9,167, credit Interest Revenue $267. credit Notes Receivable $8.900. Print 6 References O Debit Cash $9,102: credit Interest Revenue $202: credit Notes Receivable $8.900. o o O Debit Cash $9,900; credit Notes Recevable $9,900. O Debit Notes Recelvable $8,900; debit Interest Receivable $267: credit Sales $9,167. Debit Cash $9,078: credit Interest Revenue $178; credit Notes Receivable $9.900. 8 00 TB MC Qu. 07-128 (Algo) Jervis accepts all major bank credit... Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $5,900 In NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? 1 points Multiple Choice eBook O Debit Cash $5,900; credit Sales $5,900 References o o o O O Debit Accounts Receivable $5.900; creat Sales $5.900 O Debit Cash $6.195.00; credit Credit Card Expense $295.00: credit Sales $5.900 Debit Cash $5,805.00; debit Credit Card Expense $295.00; credit Sales $5.900 d Debit Accounts Recevable $5.605.00: debit Credit Card Expense $295.00: credit Sales $5.900 TB MC Qu. 07-146 (Algo) Mullis Company sold merchandise... 9 Mullis Company sold merchandise on account to a customer for $705, terms n/30. The journal entry to record this sale transaction would be: 1 points Multiple Choice eBook Debit Cash of $705 and credit Sales $705. Print References O Debit Cash of $705 and credit Accounts Receivable $705. Debit Accounts Receivable $705 and creat Sales $705. Debit Accounts Receivable $705 and credit Cash $705. Debit Sales $705 and credit Accounts Receivable $705. Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $4,100 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: 10 Multiple Choice 1 points o O Credit Account Title Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts Debit 4,180 eBook 4,100 Print References Credit Account Title Allowance for Doubtful Accounts Bad debts expense Debit 4,188 4,100 Credit Debit 4,100 Account Title Accounts Receivable-A. Hopkins Bad debts expense Cash Accounts Receivable-A. Hopkins 4,100 4,180 4,100 a O Debit Credit Account Title Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins A. 4.100 4,100 O d Credit Account Title Cash Accounts Receivable-A. Hopkins Debit 4.100 4,100
