Accountsreceivablehasadebitbalanceof$2,400,andtheallowanceforuncollectibleaccountshasacreditbalanceof$300.An$40accountreceivableiswrittenoff.Whatistheamountofnetreceivables(netrealizablevalue)afterthewrite-off?
A. $2,100
B. $2,360
C. $2,140
D. $2,060
Birchwood Corporation began 2016 with Accounts Receivable of $600,000. Service revenue, all on account, for the year totaled $1,600,000. Birchwood ended the year with accounts receivable of $800,000. Birchwood's bad-debt losses are nonexistent. How much cash did Birchwood collect from customers in 2016?
A. $1,800,000
B. $2,400,000
C. $1,600,000
D. $1,400,000
Carey Ltd. received a four-month, 6%, $2,400 note receivable on March 1. The adjusting entry on March 31 will include
A. a debit to Cash for $144.
B. a credit to Interest Revenue for $12.00.
C. a debit to Interest Receivable for $144.
D. a debit to Interest Receivable for $48.
What is the maturity value of a $80,000, 14%, six-month note?
A. $85,600
B. $91,200
C. $80,000
D. $74,400