23. On December 31, 2012, Larry's Used Cars had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $57,000 and $1,175 respectively. During 2013, Larry's wrote off $2,375 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,250 at December 31, 2013. Bad debt expense for 2013 would be: $1,175 $4,050, $5,250 $6,450, 24. On December 31, 2012, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and $2,450, respectively. During 2013, Coolwear wrote off $925 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,900 at December 31, 2013. Bad debt expense for 2013 would be: $4,900 $3,975. $925. $3,375, 25. At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $380,000 and S1,430 (debit) in Allowance for Uncolectible Accounts. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable, Bad debt expense for the year should be: $18,531. $13,770. $1.430. $16,630. 26. On February 1, 2012, Middleton Corp. lends cash and accepts a $4,000 note receivable that offers 4% interest and is due in six months. How much interest revenue will Middleton Corp report during 2012? $960, $80. $61. $160