1. The net amount reported for accounts receivables remains unchanged when a firm makes a journal entry to write-off actual bad debt True False 2. The interest revenue recognized on 2013 income statement for a non-interest bearing note receivable of $10,000 issued on 1/1/2013 is zero because the note does not bear interest. True / False 3. A sales transaction of $5,000 provides the customer a cash discounts of 2/15, n/30. If the firm adopts the net method to account for the transaction initially and the customer did not take advantage of the discount within 15 days, the journal entry on the date of payment involves a. A debit of 100 to Sales Discount b. A credit of 100 to Sales Discount c. A debit of 100 to Sales Discount Forfeited d. A credit of 100 to Sales Discount Forfeited