On January 1 , the Allowance for Doubtful Accounts had a balance of $10,000. December 31 Accounts Receivable balance =$1,000.000. Sales for the year =$15,000,000. Calculate the bad debt expense and the balance in the allowance account using the following assumptions: Receivables method: 2% % of Sales: .1\% Promissory Note Has a Face Amount, a Term, and an Interest Rate (expressed as an annual percentage) Need to calculate the due date of the note. Example: Assume that a 120-day note is signed on March 11. What is the maturity date of the note? 9