BE9-10 Presented below are data on three promissory notes Determine the missing amounts. Date of Maturity Annual Total Note Terms Date Principal Interest Rate Interest (a) April 1 60 days 2 $600,000 9% ? (b) July 2 30 days 90,000 ? $600 (c) March 7 6 months 120,000 10% ? BE9-11 On January 10, 2012, Honig Co. sold merchandise on account to Peregrine Co. for $13,600,n/30. On February 9, Peregrine Co. gave Honig Co. a 10% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable. BE9-12 The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.8 billion at the end of the year. Compute 3M's receivables turnover ratio. Compute 3M's average collection period for accounts receivable in days