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Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note $40,000 a. January 10* b. March 19 18,000 90 days 180 days 30 days 90 days 90,000 c. June 5 d. September 8 36,000 27,000 e. November 20 60 days *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $969,000 and sales for the year total $10,990,000. a. The allowance account before adjustment has a credit balance of $13,100. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a credit balance of $13,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $41,900. C. The allowance account before adjustment has a debit balance of $6,800. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $6,800. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $56,400. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,240 from Ian Kearns and wrote off the remainder owed of $4,050 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Ian Kearns and received $4,050 cash in full payment. Reinstate Collection