QS 9-10 Computing note interest and maturity date C2 Determine the maturity date and compute interest for each note. Note Contract Date Principal Interest Rate Perlod of Note (Term) 1............. 2. . 3. . March 1 May 15 October 20 $10,000 15,000 8.000 6% 8 60 days 90 days 45 days 4 QS 9-11 Note receivable C2 On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable. (1) Compute the maturity date for this note. (2) Prepare Jun's journal entry for August 2. QS 9-13 Note receivable interest and maturity P4 On December 1, Daw Co. accepts a $10,000, 45-day, 6% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored. QS 9-17 Accounts receivable turnover A1 Page 348 The following data are for Ruggers Company. Compute and interpret its accounts receivable turnover for the current year (competitors average a turnover of 7.5). Current Year 1 Year Ago Accounts receivable, net Net sales. $153,400 861,105 $138,500 910,600