30. A 60-day note receivable dated June 13 has a maturity date of A) August13 B) August 12 C) August 11 D) August 10 31. A 90-day note dated June 14th has a maturity date of: A) September 14 B) September 12 C) September 13 D) September 15 32. A 30-day note dated May 18th has a maturity date of A) June 18th B) June17th C) June 19th D) June 16th 33. A promissory note: A) is not a formal credit instrument B) may be used to settle an accounts receivable C) has the party to whom the money is due as the maker D) cannot be factored to another party Use the following the answer questions 34-35: The financial statements of Bolton Manufacturing Company report net sales of $500,000 and accounts receivable of $50,000 and $30,000 at the beginning and end of the year, respectively. 34. What is the receivables turnover ratio for Bolton? A) 7 times B) 10 times C) 16.7 times D) 12.5 times 35. What is the average collection period for accounts receivable in days? A) 52.1 B) 29.2 C) 21.9 D) 36.5 Page 8