14 During 2021, its first year of operations, a company provides services on account of $253,000. By the end of 2021, cash collections on these accounts total $132,000. The company estimates that 14% of accounts receivable will be uncollectible. Record the adjustment for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjustment for uncollectible accounts on December 31, 2021. Note: Enter debits before credits Debit General Journal Event Credit 1 Record entry Clear entry View general Journal Exit 115 Suppose at the end of the year before any adjusting entries, a company has a balance in Allowance for Uncollectible Accounts of $5,000 (debill. During the year, the company reported the following amounts: Credit sales to customers - $550,000 Cash collections from customers = $540,000 Actual bad debts = $20,000 What was the balance of Allowance for Uncollectible Accounts at the beginning of the year? Multiple Choice $10,000 $25,000 O $15,000 O $20,000 16 On November 1, 2021, a company signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. The company should report interest payable at December 31, 2021, in the amount of Multiple Choice $3,000 $0. O $2.000 0 $1,000