Question: Same Day Surgery Center received a 120-day, 10% note for 596,000 , dated April 9 from a customer on account. Assume 360 days in a

Same Day Surgery Center received a 120-day, 10% note for 596,000 , dated April 9 from a customer on account. Assume 360 days in a yeac a. Dctcrmine the due date of the note. b. Determine the maturity value of the note. At the end of the current year, Accounts Recelvable has a balance of $885,000; Allowance for Doubtrul Accounts has a credit balance of $8,000; and sales for the vear total $3,980,000. Bod debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense: c. Determine the net realizable volue of accounts receivable
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