1.A company's accountant determines that $15,000 of the accounts receivable are estimated to be uncollectible. If the Allowance for Doubtful Accounts has a $1,200 debit balance, the adjustment to record bad debt for the period will require a debit to the bad debt expense account for how much?

2. What is the amount of total interest earned on a note receivable based on the following information:

Principal 12,000

Annual Interest Rate 6.00%

Term (in days) 55