34. The Allowance for Bad Debts account has a debit balance of $8,000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $13,000. What amount of bad debts expense will be reported on the income statement? A) $6,000 B) $21,000 C) $5,000 D) $13,000 35.The following information is from the 2020 records of R & S Commercial Plumbing Company: Accounts receivable, December 31, 2020 $41,000 (debit) Allowance for Bad Debts, December 31, 2020 prior to adjustment 1,300 (debit) Net credit sales for 2020 175,000 Accounts written off as uncollectible during 2017 15,000 Cash sales during 2020 30,000 Bad debts expense is estimated by the percent-of-sales method. Management estimates that 6% of net credit sales will be uncollectible. Calculate the amount of bad debts expense for 2020. A) $10,500 B) $8,040 C) $12,300 D) $9,200 36. On August 14, Park Avenue Bank lent $240,000 to City Coffee Shop on a 75 day, 6% note. What is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.) A) $242,959 B) $243,000 C) $240,000 D) $254,400 37. On October 1, 2020, Jewelry Specialists Company made a loan to one of its customers. The customer signed a 6-month note for $130,000 at 10%. Calculate the total interest earned on the note. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $6,500 B) $3,249 C) $1,083 D) $13,000