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8. ( 8 points) A company has net credit sales of $1,200,000, beginning net accounts receivable of $260,000, and ending net accounts receivable of $220,000. What are the days' sales in accounts receivable? (Round any intermediate calculations to two decimal places, and your final answer to the nearcst whole day.). 9. (10 points) ABC Co. loans $60,000 cash to XYZ Co. on March 1. The loan plus interest of 6% is due in 9 months. a. Record the journal entry for the loan made at March 1. Note Reccivable 1e0,000 cash $40,000 b. Record the journal entry for the receipt of the payment for the principal and interest earned at maturity. cash"Co,000noteRecicvable40,000020,0000,064/3=4,200 10. (8 points) The Income Statement for ABC Co for the year ended 12/31/2024 is reporting Cost of Goods Sold of $2,550,000. The balance sheet is reporting lnventory at 12/31/2023 of $400,000 and 12/31/2024 of $450,000. a. What is the Inventory Tumover Ratio for 2024? 6 400,000850,000/2450,000425,000 b. What were the Days Sales in Inventory for 2024 ? b) days 420,0002,550,000 11. (4 points) ABC Co management determines that they will not be able to colfect $500 that is owed by their customer BJ Johnsoz, Record the journal entry to write-off the account using the allowance method

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