The higher the receivables turnover, the less liquid are the company's receivables. Select one: O True O False The principal amount of a 7% note receivable is $ 500,000. The note is dated January 1, 2021 and is due January 1, 2024. The interest revenue to be recognized on December 31, 2021, the company's year-end, is $ 105,000. Select one: O True O False The interest due at the maturity of a two month, 10%, $ 600 note is calculated by multiplying $ 600 10% * 2/12. Select one: O True O False An aging schedule shows a required balance in Allowance for Doubtful Accounts of $ 9,600. If there is a credit balance in the allowance account of $ 2,500 prior to adjustment, the adjustment amount is $ 7,100. Select one: O True O False