Giorgio Italian Market bought $4,800 worth of merchandise from Food Suppliers and signed a 90-day, 8% promissory note for the $4,800. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.)Multiple ChoiceDebit Cash $4,896; credit Notes Receivable $4,896Debit Cash $4,800; debit Interest Receivable $96; credit Sales $4,896Debit Notes Receivable $4,896; credit Sales $4,896Debit Cash $4,896; credit Interest Revenue $96; credit Notes Receivable $4,800Debit Notes Receivable $4,800; credit Cash $4,800

Giorgio had cost of goods sold of $9,457 million, ending inventory of $2,125 million, and average inventory of $2,001 million. Its inventory turnover equals:Multiple Choice77.2 days.4.50.82.0 days.0.22.4.73.

Select all that applyOn January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:Multiple select question.debit to Cash for $5,025.debit to Interest Revenue for $25.credit to Note Receivable for $5,025.credit to Interest Revenue for $25.credit to Note Receivable for $5,000.

On January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:Multiple select question.credit to Interest Revenue for $25.debit to Interest Revenue for $25.credit to Note Receivable for $5,000.credit to Note Receivable for $5,025.debit to Cash for $5,025.

Select all that applyOn January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due date of the note, Bria honors the note and pays in full. The journal entry that Franz would make to record payment of this note would include a:Multiple select question.credit to Note Receivable for $5,025.debit to Interest Revenue for $25.credit to Note Receivable for $5,000.credit to Interest Revenue for $25.debit to Cash for $5,025.

Jax Recording Studio purchased $7,900 in electronic components from Music World. Jax signed a 90-day, 8% promissory note for $7,900. Music World's journal entry to record the sales transaction is:Multiple ChoiceDebit Notes Receivable $7,900; debit Interest Receivable $158; credit Sales $8,058Debit Notes Receivable $7,900; credit Sales $7,900Debit Accounts Receivable $7,900; credit Sales $7,900Debit Accounts Receivable $8,058; credit Sales $8,058Debit Notes Receivable $8,058; credit Sales $8,058