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6. A 90-day, 12% note for RM10,000 dated 1 May 2020, is received from a customer on account The maturity value of the note is A. RM11.200 B. RM10,300 C. RM10,000 D. RM9.550 7. Based on the following data for the year what is the accounts receivable turnover? Net credit sales Cost of goods sold Account receivable, beginning of the year Account receivable, end of the year Inventory, beginning of the year Inventory, end of the year RM 500,000 300,000 45,000 35,000 90,000 110,000 A. 5.0 B. 11 C 12.5 D. 14.3 8. The journal entry a company records for the payment of interest, interest expense and amortization of premium on bond is: A. Debit Interest Expense, credit Cash and Premium on Bond. B. Debit Interest Expense and Premium on Bond, credit Cash. C. Debit Interest Expense and credit Cash. D. Debit Interest Expense, credit Interest Payable and Premium on Bond. 9. Vega Sdn. Bhd. purchased two identical inventory items. One of the items cost RM60 was purchased in January. The other was purchased in March and the company paid RM70 for the inventory item. One of the items was sold in April at a price of RM100. Select the correct answer assuming Vega Sdn. Bhd. uses a LIFO cost flow method. A. The balance in the ending inventory would be RM70. B. The amount of the gross profit would be RM40. C. The amount of the ending inventory would be RM65. D. The amount of gross profit would be RM30

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