1/ What is the amount of interest revenue that must be accrued on December 31^st for a nine-month, 6%, $2,000 note receivable that was accepted on November 1^st? Interest Accrued: .......

2/ Manning Company uses the allowance method. At the end of its first year of operations, the company estimates that it will not collect $2,500 of its accounts receivable. Prepare the appropriate adjusting journal entry to establish the estimate for uncollectible accounts

2a/ Record the $2,500 estimate of accounts receivable that will not be collected.