1, Plunder Inc. accepted a six-month noninterest-bearing note for $2,800 on January 1, 2021. The note was accepted as payment of a delinquent receivable of $2,500. What is the correct entry to record the note?

• Notes receivable	2,500
  Accounts receivable		2,500

• Notes receivable	2,800
  Accounts receivable		2,500
  Discount on notes receivable		300

• Notes receivable	2,800
  Reserve for delinquent accounts		2,500
  Allowance for bad debts		300

  • Notes receivable	2,800
    Accounts receivable		2,500
    Gain on delinquent account		300

2, The balance in accounts receivable at the beginning of 2021 was $620. During 2021, $3,400 of credit sales were recorded. If the ending balance in accounts receivable was $130 and $300 in accounts receivable were written off during the year, the amount of cash collected from customers during 2021 was:

• $3,890.

• $4,020.

• $3,400.

• $3,590.