As of May $1,$ accounts receivable had a $$215,000$ debit balance and allowance for doubtful accounts had a $$1,320$ credit balance. There were no other receivables as of that date. The business uses the allowance method for its doubtful accounts. The business recorded the following transactions during the month of May. The business year end is May $31.$

Hint $-$ you may wish to up T$-$accounts for the current assets described below such as accounts receivable and update based on the transactions below.

$1.$ A customer, Delta, owed $$14,500$ on account to the business. Delta contacted the credit department asking for an extension to pay its bill. On May $1,$ Delta signed a $9\%,$ three$-$month $$14,500$ promissory note, with interest and principal to be paid on maturity.

$2.$ A customer, Alpha, was billed $$4,300$ on May $6$ for service revenues. Alpha paid her bill using her VISA credit card. VISA charged a service fee of $3\%$ for the transaction.

$3.$ Another customer, Beta, had a credit balance of $$4,500$ that the business decided to write off on May $7.$

$4.$ Five days later, much to everyone's surprise, the Beta $($see #$3)$ paid its $$4,500$ bill.

$5.$ During the month of May, the business recorded $$123,000$ of customer billings for service revenue with payment terms of net $30.$

$6.$ $$176,000$ in cash was collected from customers on their accounts receivable during the month of May.

$7.$ Based on a review of the aged accounts receivable on May $31,$ our credit department estimates that $$16,250$ will be uncollectible.