Q$1$ From Ch$8-1$ note

Assume that Jordache Co$.$ on July $1,2017,$ sells merchandise on account to Polo Company for $$2,000$ terms $\frac{2}{10},\frac{n}{30}.$ Prepare the journal entry to record this transaction on the books of Jordache Co$.$

On July $5,$ Polo returns merchandise worth $$200$ to Jordache Co$.$

On July $11,$ Jordache receives payment from Polo Company for the balance due.

Q$2$ From Ch$8-2$ note

Hampson Furniture has credit sales of $$1,200,000$ in $2017,$ of which $$200,000$ remains uncollected at December $31.$ The credit manager estimates that $$13,000$ of these sales will prove uncollectible.

The vice$-$president of finance of Hampson Furniture on March $1,2018,$ authorizes a writeoff of the $$620$ balance owed by R$.$ A$.$ Ware. The entry to record the write$-$off is:

On July $1,$ R$.$ A$.$ Ware pays the $$620$ amount that Hampson Furniture had written off on March $1.$ Hampson makes these entries:

Q$3$ From Ch$8-2$ note

Morgan Marie purchases $$1,000$ of compact discs for her restaurant from Sondgeroth Music Co$.,$ and she charges this amount on her Visa First Bank Card. The service fee that First Bank charges Sondgeroth Music is $3\%.$ Sondgeroth Music's entry to record this transaction on March $22,2017,$ is as follows.

Q$4$ From Ch$8-4$ Note

In $2017,$ Stephen Curry Company had net credit sales of $$150,000$ for the year. It had a beginning accounts receivable $($net$)$ balance of $$60,000$ and an ending accounts receivable $($net$)$ balance of $$40,000.$ Compute Stephen Curry Company's accounts receivable turnover and average collection period in days.