1) Determine the interest on the following notes:(a) $5,000 at 6%for 90 days.(b) $800 at...1) Determine...

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Accounting

1) Determine the interest on the following notes:
(a)        $5,000 at 6%for 90 days.
(b)        $800 at 9%for 5 months.
(c)        $6,000 at 8%for 60 days
(d)        $1,600 at 7%for 6 months
2) The following data exists for Mather Company.
                                                                         2017                          2016
AccountsReceivable                                 $  80,000                    $70,000
NetSales                                                     560,000                      410,000
Calculate the accounts receivable turnover and the averagecollection period for accounts receivable in days for 2017.

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Question 1 Answer Question No Notes Value Interest DaysMonths Months Annual Interest Interest A 5000 6 90 Days 3 50006100 300 300312 75 B 800 9 5 See Answer

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In: Accounting1) Determine the interest on the following notes:(a) $5,000 at 6%for 90 days.(b) $800 at...1) Determine the interest on the following notes:(a) $5,000 at 6%for 90 days.(b) $800 at 9%for 5 months.(c) $6,000 at 8%for 60 days(d) $1,600 at 7%for 6 months2) The following data exists for Mather Company. 2017 2016AccountsReceivable $ 80,000 $70,000NetSales 560,000 410,000Calculate the accounts receivable turnover and the averagecollection period for accounts receivable in days for 2017.