-- 38 39 Question 37 (4 points) On October 1, 2020, the Petty Co. loaned $20,000 to the American Girl Co. The loan is a one-year note with an interest rate of 10%. All payments for principal and interest will be received by the Petty Co. on September 30, 2021. What is the maturity value of the note? 41 42 - I 3 45 1) $20,000 16 47 48 2) $21,500. 49 3) $22,000 50 51 4) $22,500 52 Debit to Accounts Receivable and a credit to Sales Revenue. 4 35 36 7 38 39 Question 34 (4 points) The Elizabeth Co. purchased 1,000 basketballs for resale to their customers for $10,000 ($10 per unit). The Elizabeth Co. sold 100 basketballs at a selling price of $30 per unit. The sale was made on account with cash to be received the following month. The Elizabeth Co. would report a gross profit of: 0 41 42 -- 13 44 45 $2.000 46 47 48 $3,000. $10,000 49 50 51 $500. 52 $1,000 $3,940. 37 38 39 40 41 42 I 43 44 45 Question 29 (4 points) The Matisse Co. sells hula hoops the company purchases from their supplier, the Goop Co. At year end, the Matisse Co. sold a total of 1,200 hula hoops at a selling price of $10 per unit. The following information relates to inventory for the current year: Beginning Inventory: 100 units @ $2.00 per unit Purchase 1: 300 units @ $2.20 per unit Purchase 2: 500 units @ $3.00 per unit Purchase 3: 500 units @ $4.00 per unit Question: Using Weighted Average Cost (Average Cost), Ending Inventory would be closest to: 46 47 48 49 50 51 52 $800. $623. $870