ABC

d. 30 10. ABC company uses the estimate of sales method of accounting for uncollectible accounts. ABC estimates that 3% of all credit sales will be uncollectible. On January 1, 2005, the Allowance for Doubtful Accounts had a credit balance of $2,400. During 2005, ABC wrote-off accounts receivable totaling $1,800 and made credit sales of $100,000. After the adjusting entry, the December 31, 2005, balance in the Uncollectible Accounts Expense would be a. $1,200 b. $3,000 c. $3,600 d. $7,200 Part II Solve Problem 1. Determine the due date and amount of interest due at maturity on the following notes: Origination Face Term Interest Maturity Interest Date Amount of Note Rate Date Amount 29 afl 13.97 4,000 60 days 9,000 90 days (a) Mar 1 8% 11 236.7 b) May 15