Valley Spa purchased $10,400 in plumbing components from Tubman Company. Valley Spa signed a 45-day, 7% promissory note for $10,400. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.)Multiple Choice$91$10,730$10,650$10,400$10,491

Valley Spa purchased $10,500 in plumbing components from Tubman Company. Valley Spa signed a 60-day, 12% promissory note for $10,500. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry made by Tubman to record the dishonored note? (Use 360 days a year.)Multiple ChoiceDebit Accounts Receivable—Valley Spa $10,500; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710; debit Bad Debt Expense $210; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710, credit Interest Revenue $210; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,500; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,710; credit Accounts Receivable—Valley Spa $10,710.

A company borrowed $19,000 by signing a 180-day promissory note at 10%. The total to be paid at maturity of the note is: (Use 360 days a year.)Multiple Choice$22,895.00$23,275.00$19,950.00$24,225.00$24,700.00

On September 1, Horn Co. accepted a 60-day, 5% note in the amount of $3,000 from a customer. On the due date of the note, the customer dishonors the note and fails to pay. The journal entry that Horn would make on the due date would include debit to:Multiple choice question.Cash for $3,150Cash for $3,000Accounts Receivable for $3,025Accounts Receivable for $3,150Accounts Receivable for $3,000Cash for $3,025

Select all that applyOn November 1, Alice Co. accepted a 90-day, 6%, $2,000 note due January 30. On December 31, the appropriate adjusting entry was made. On January 30 of the next year, the note was honored and paid in full. The entry to record receipt of payment on January 30 would include a credit to:Multiple select question.Interest Revenue for $20.Cash for $2,030.Notes Receivable for $2,000Interest Revenue for $10.Interest Revenue for $30.Interest Receivable for $20.

Uniform Supply accepted a $8,800, 90-day, 9% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on January 15 of the next year when the note is paid?. (Use 360 days a year.)Multiple ChoiceDebit Notes Receivable $8,800; debit Interest Receivable $198; credit Sales $8,998.Debit Cash $8,998; credit Interest Revenue $198; credit Notes Receivable $8,800.Debit Cash $8,998; credit Interest Revenue $33; credit Interest Receivable $165; credit Notes Receivable $8,800.Debit Cash $8,998; credit Interest Revenue $165; credit Interest Receivable $33; credit Notes Receivable $8,800.Debit Cash $8,998; credit Notes Receivable $8,998.