U EB Program Business. HB Harvard cases C Chega Company B Question 34 3.5 pts Extra Credit: In 2019, AM Company has net credit sales of $1,000,000 for the year. It had a beginning accounts receivable (net) balance of $40,000 and an ending accounts receivable (net) balance of $60,000. Compute AM Company's accounts receivable turnover. Question 35 3,5 pts Question 12 6.67 pts A note payable is issued on May 1, 2018 and the maturity date is August 1, 2018. This note payable would be considered a current liability. True O False Question 14 6.67 pt On July 1, 2018, Hale Kennels sells equipment for $350,000. The equipment originally cost $700,000, had an estimated 5-year life and an expected salvage value of $100,000. The accumulated depreciation account had a balance of $300,000 on January 1, 2018, using the straight-line method. The gain or loss on disposal is gain of $70,000 gain of $10.000 loss of $90.000 loss of $10,000