On March $1,20$Y$5,$ KAA Co$.$ issues a $$4,000$ promissory note to Red Houses Inc. in

settlement of its account receivable, which is three months past due. The note will be

due in $60$ days and has a $10\%$ interest rate.

a$.$ Record the journal entry for the receipt of the note.

b$.$ Prepare the journal entry for KAA Co$.$ on the due date, assuming that Red Houses

Inc. pays the promissory note. Round interest to the nearest whole dollar.

KAA Co$.$ issues a $$2,500$ promissory note to Mane Attractions on August $1,20Y5,$ in

settlement of its past due account receivable. The note states a due date in $30$ days with

a $12\%$ interest rate.

a$.$ Record the journal entry for the issuance of the note.

b$.$ Prepare the journal entry for KAA Co$.$ on the due date, assuming that Mane

Attractions pays the promissory note.

classified as current or noncurrent on the balance sheet as of December $31,20Y5.$

a$.$ Accounts Receivable, $$2,750$

b$.$ Notes Receivable $($due in $27$ months$),$ $$5,100$

c$.$ Taxes Receivable $($due in March$),$ $$1,250$

Using the information in the table below, calculate The Garden Shop's accounts

receivable turnover for $20Y5$ and $20Y6,$ rounding answers to one decimal place. Does

the change indicate a favorable or unfavorable trend?

Tasty Treats has implemented a change in its credit policy in hopes of becoming more

efficient in collecting accounts receivable. Using the information provided, calculate the

company's days' sales in receivables. Round answers to one decimal place. Has the

change met the company's goal of increasing efficiency?