On July 1st, Milwaukee Inc. issued a $720,000 note receivable due in 6 months with a 10% annual interest rate, providing its customer with cash. On December 31st, the customer repaid in cash the note receivable plus the six months of interest. Milwaukee Inc. records interest accrued monthly. What is the balance in the interest receivable account on September 30th? Your Answer: Answer At the beginning of 2022, Terrarium Co. had $1,890,000 of gross accounts receivables and $201,000 in their allowance for doubtful accounts. During 2022, Terrarium sold $4,760,000 worth of plants on account and collected $2,380,000 worth of receivables in cash. In addition, Terrarium wrote-off $56,000 worth of accounts receivables and made $3,200 of cash recoveries in 2022. Terrarium Co. uses the percentage sales method to determine bad debt expense, estimating 5% of sales to be uncollectible. What is the bad debt expense for 2022? Your