On June 1, 2018, Sort Corp. loaned Knox $800,000 on a 12% note, payable in five annual installments of $160,000 beginning January 2, 2019. Knox was also required to deposit $5,000 in a non interest-bearing escrow account. This money will be returned to Knox after all principal and interest payments have been made. Interest on the note is payable on the first day of each month beginning July 1, 2018. Knox made timely payments through November 1, 2018. On January 2, 2019, Sort received payment of the first principal installment plus all interest due. What would Sort’s interest receivable on the loan to Knox be on December 31, 2018?

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?