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Question 8 (1 point) On July 1st, a company exchanges an account receivable from a customer with a $100,000 note receivable due in 3 years with a 12% annual interest rate. The customer repays the loan and the accrued interest at the end of the three years. Assume that interest is not compounding from period to period. On receipt of cash from the customer, who pays the principal and all of the interest owed to the company, among other items the company records a... credit to interest receivable debit to accounts receivable debit to interest income debit to note receivable Question 9 (1 point) Firm A has an accounts receivable turnover of 10.86 and Firm B has an accounts receivable turnover of 8.24. On average, which firm takes longer to collect cash from customers? O Firm A. O Firm B Question 10 (1 point) When recording the period-end adjustment to "Bad Debt Expense"/"Allowance for Doubtful Accounts" using the aging of receivables method, Company A will credit the "Allowance for Doubtful Accounts" for the amount that is required to be reported on the balance sheet at the end of the period regardless of the existing! balance in "Allowance for Doubtful Accounts" before the period-end adjusting journal entry is made. True False