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Complete exercises 6-2, 6-7,6-18 6-2 Determine th...

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Complete exercises 6-2, 6-7,6-18 6-2 Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note a. October 1 $10,500 8% 60 days b. August 30 18,000 10 120 days c. May 30 12,000 12 90 days d. March 6 15,000 9 60 days e. May 23 9,000 10 60 days 6-7 Fonda Bikes Co. is a wholesaler of motorcycle supplies. An aging of the company?s accounts receivable on December 31, 2010, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Age Interval Balance Percent Uncollectible Not past due $567,000 ?% 1?30 days past due 58,000 3 31?60 days past due 29,000 7 61?90 days past due 20,500 15 91?180 days past due 15,000 40 Over 180 days past due 10,500 75 $700,000 6-18 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Commodity Inventory Quantity Unit Cost Price Unit Market Price Aquarius 20 $ 80 $ 92 Capricorn 50 70 65 Leo 8 300 280 Scorpio 30 40 30 Taurus 100 90 94

 

Paper#11108 | Written in 18-Jul-2015

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