1. The ledger of Roma Company at the end of the current year shows Accounts Receivable $180,000, Sales Revenue $1,800,000, and Sales Returns and Allowances $60,000. Instructions a) If Roma uses the direct write-off method to account for uncollectible accounts, journal- ize the adjusting entry at December 31, assuming Roma determines that Billie's $2,900 balance is uncollectible. b) If Allowance for Doubtful Accounts has a credit balance of $4,300 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1 % of net sales, and (2) 10% of accounts receivable. c) If Allowance for Doubtful Accounts has a debit balance of $410 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 0.75% of net sales and (2) 6% of accounts receivable. 2. Sargeant Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. Nov. Loaned $20,000 cash to Mary Hawkins on a 1-year, 12% note Dec. 11 Sold goods to Eminem, Inc., receiving a $9,000. 90-day, 8% note. 16 Received a $8,000, 6-month, 9% note in exchange for Rick DeLong's outstanding accounts receivable 31 Accrued interest revenue on all notes receivable. Instructions (a) Journalize the transactions for Sargeant Supply Co. (b) Record the collection of the Hawkins note at its maturity in 2018