Aa- AaBbcc Aabbcc AaBbc Aabbccc AaB 1 Normal 11 No Spac. Heading 1 Heading 2 AND A Title Paragraph Styles Question Five: Note receivable-journal entries On September 1, 2015, Dental Equipment Corporation sold equipment priced at $350,000 in exchange for a six-month note receivable with an annual interest rate of 12%, all due at maturity (a) Prepare the December 31, 2015 (fiscal year-end), adjusting entry made by Dental with regard to this note receivable (6.) Prepare the entry made by Dental on March 1, 2016 (maturity date of note), to record collection of note and interest. (a) 2015 Dec. 31 General Journal (b) 2016 March ! (c) Assume that on March 1, 2016, the maker of the note defaults and Dental does not collect the note. Prepare the entry to be made to Dental on March 1, 2016, in this situation (c) 2016 March 1 Question Six: Periodic inventory systems Tres Chic uses a periodic inventory system. The beginning inventory of a particular product and the purchases during the current year, were as follows. Totes ACFN212 Assignment One - Word References Mailings Review View Tell me what you want to do... Aa- E... ENA! AaBbcc AaBbCcDc AaBb AaBbcc 1 Normal 1 No Spac... Heading 1 Heading 2 A. ay. A Paragraph Styles Question Six: Periodic inventory systems Tres Chic uses a periodic inventory system. The beginning inventory of a particular product, and the purchases during the current year, were as follows: Jan 1 Mar 9 Aug 11 Dee 23 Beginning inventory Purchase Purchase Purchase Total available for sale in year 1.000 units a $14.00 - 1.050 units $14.50 950 units a $15.00 500 units $15.75 3.500 units $ 14,000 15.225 14.350 7875 $51.350 At December 31, the ending inventory of this product consisted of 850 units. Determine the cost of the year-end inventory and the cost of goods sold for this product under each of the following methods of inventory valuation (Rounded): tes unulu) Inventory at Dec. 31 $ Cost of Goods Sold $ $ $ Average cost First-in, first-out Last in, first-out (6) (c sited states