1. At the beginning of 2018 Evan Company had a $1,325 balance in its accounts receivable account and a $275 balance in allowance for doubtful accounts. During 2018, Evan experienced the following events.

(1) Earned $3,535 of revenue on account.

(2) Collected $2,484 cash from accounts receivable.

(3) Wrote-off $245 of accounts receivable as uncollectible.

Evan estimates uncollectible accounts to be 1% of sales. Based on this information, the December 31, 2018 adjusted balance in the allowance for doubtful accounts is

2.On March 1, 2018, Bodie Co. accepted a $7,200 face value note as evidence of a loan it made to T Company. The note had a 10 percent interest rate and a one-year term. What is the interest revenue recognized by Bodie in 2018?

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