Problem
I. What is the gross payroll accrued through 5/31?A. $8,303.69 C. $11,072.65B. $8,688.64 D. $33,991.5712the second worksheet is for the questions 2 and 31. Amy has offered to convert an accounts payable obligation to a Note. How does she record this in her Bookkeeping?
i. Debit cash; Credit Accounts payable
ii. Debit Accounts payable; Credit revenue
iii. Debit accounts payable; Credit notes payable
iv. Debit notes payable; Credit accounts payable
II. To compute the amount to be paid for the brads on purchase invoice NO.109, you should multiply .59 by?
i. 11,500
ii. 115,000
iii. 1,150
iv. 1153.
III. What amount should be credited to purchases returns and allowances from credit memo NO.24?
i. $2.25
ii. $110.45
iii. 112.70
iv. 114.954.
IV. When would a business use a note versus Accounts payable?
i. when the amount is large
ii. when the payment terms are over a longer time
iii. when the customer has bad credit
iv. when the customer has good credit.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.