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  3. 20 points 2. determine the due date and amount of

20 points 2. Determine the due date and amount of interest...

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Accounting

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20 points 2. Determine the due date and amount of interest due at maturity on the notes: (Show the actual days in each month to the due date). Origination Face Interest Maturity Interest Date Amount of Note Rate Amount (a) Mar 1 $6,000 60 days (b) May 15 $10,000 90 days Term Date 9% 8% 20 points 3. Based on the following data and using a 365-day year, compute @ the accounts receivable turnover and (b) the number of days' sales in receivables for 12/31/01 and 12/31/02. The industry average is a receivable turn of once every 19 days. Comment on this situation (How does the days turn you calculated compare to the industry average?). 12/31/01 Accounts Receivable, net.. 1231/02 Accounts Receivable, net. For the year ended 12/31/01, net credit sales.., For the year ended 12/31/02, net credit sales.... Receivable 1 $ $ 90,000 70,000 1,250,000 1,600,000

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