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Chapter #9: #4 A company borrowed $10,000 by signing a 180-Day promissory note at 9%. The maturity value of the Note is (Use a 360 Day Banker's Year): A. S10,900 B 11 800 C. $10,300 D $10,075 E. $10,450 #5. A company uses the Percent of Sales Method to determine its Bad Debt Expense. At the End of the current year, the Company's unadjusted trial balance reported the following selected amounts: Accounts Receivable Allowance for Uncollectible Accounts Net Sales $375,000 Debit Balance $500 Debit Balance $800,000 Credit Balance All sales are made on Credit. Based on past experlence, the company Estimates that 0.6% Of net Credit Sales are Uncollectible. What amount should be Debited to Bad Debt Expense when the year end Adjusting entry is prepared ? A. 55,500 8. $4,500 C. $4,800 D. $1,275 E. $1,775 Chapter #11 46. The Current FUTA tax rate is 0.6% and the SUTA Tax Rate is 5.4%. Both taxes are applied to the first $7,000 of an Employee's Pay. Assume that an Employee earned total wages of $9,900 What is the amount of total unemployment taxes the employer must pay on this employee's wages? 27. A Contingent Lability that is recorded as a liability for the Company is one that is: A. Probable and Not Estimable B. Possible Remote D. Both Probable AND Estimable