1. On December 1, 2017, Summit, Inc. sold machinery to a customer for $22,000. The customer could not pay at the time of sale but agreed to pay 10 months later and signed a 10-month note at 10% interest. How much interest revenue was earned during 2018? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

2.The Allowance for Bad Debts account has a credit balance of $8,300 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $14,700. The balance of the Allowance for Bad Debts reported on the balance sheet will be $

3.The Allowance for Bad Debts account has a debit balance of $9,000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $13,000. Bad debts expense will be reported on the income statement as $