ome (credit balance), credit sales during the year, $1,500,000; accounts receivable written off during the year, $16,000; cash collections from customers, $1,450,000. Assuming the company estimates bad debts at an ar equal to 2% of credit sales, calculate (1) bad debt expense for the year and (2) the year-end balance in the a ance for uncollectible accounts. Refer to the situation described in BE 7-13. Answer the two questions assuming the company estimates future bad debts will equal 10% of the year-end balance in accounts receivable. A company's year-end balance in accounts receivable is $2,000,000. The allowance for uncoilectible had a beginning-of-year credit balance of $30,000. An aging of accounts receivable at the end of the y cates a required allowance of $38,000. If bad debt expense for the year was $40,000, what was the am bad debts written off during the year? Refer to the situation described in BE 7-15. If credit sales for the year were $8,200,000 and $7,950, lected from credit customers, what was the beginning-of-year balance in accounts receivable? On December 1, 2021, Davenport Company sold merchandise to a customer for $20,000. In paym merchandise, the customer signed a 6% note requiring the payment of interest and principal on M How much interest revenue will the company recognize during 2021? In 2022