At December 31, Gill Co. reported accounts receivable of $227,000 and an allowance for uncollectible accounts of $1,900 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. The amount of the adjustment for uncollectible accounts would be: Multiple Choice $6,440. $4,540 O O $1,900. $2,640 X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Interest Expense Decrease in Carrying Value Cash Paid Date 01/01/2021 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 $6,660 6,660 6,660 6,660 6,660 $5,790 5, 747 5,701 5,653 5,603 $ 870 913 959 1,007 1,057 Carrying Value $115,806 114,936 114,023 113,064 112,057 111,000 X2 buys back the bonds for $114,560 immediately after the interest payment on 12/31/2022 and retires them. What gain or loss, if any, would X2 record on this date? Multiple Choice $1,422 loss. O $3,560 gain. 12/31/2024 12/31/2025 6,660 6,660 5,653 5,603 1,007 1,057 112,057 111,000 X2 buys back the bonds for $114,560 immediately after the interest payment on 12/31/2022 and retires them. What gain or loss, if any, would X2 record on this date? Multiple Choice $1,422 loss. O $3,560 gain. $537 loss. O No gain or loss