2. At the end of the current year, a company has the following amounts: During the Estimated for Current Year Next Year Sales Returns $ 7,200 $ 8,300 Sales Allowance 12,500 9,100 Sales Discounts 2,400 2,600 For what amount would the company report sales returns in its current-year income statement? Work: Answer (2) 3. On July 1, 2018, a company loans one of its employees $20,000 and accepts a nine-month, 8% note receivable. Calculate the amount of interest revenue the company will recognize in 2018 (3A) and 2019 (3B) Work: Answer (3A - 2018) Answer (3B - 2019)