BEB-10 Presented below are data on three promissory notes. Determine the missing amounts. Determine maturity dates and compute interest and rates on Date of Maturity Annual 5% 10% Total Note Terms Date Principal Interest Rate Interest LO5) 600,000 0,000 120,000 a) April 1 60 days (b) July 2 (c) March 7 6 months 600 BE8-11 On January 10, 2017, Wilfer Ltd. sold merchandise on account to Elgin Co. for HK$80,400, n/30. On February 9, Elgin Co. gave Wilfer Ltd. a 7% promissory note in set- tlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable. Prepare entry for note mmable exchanged for account receivable LO 6 BE8-12 The financial statements of Minnesota Mining and Manufacturing Company (3M) (USA) 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 accounts receivable turnover Compute 3M's average collection period for accounts receivable in days. Compute ratios to analye eceivables LO 9