para are 33. papers Debit Bad Debt Expense $4,000, credit Allowance for Doubtful Accounts $4,000- . If we believe that 2 percent of Account Receivables will be uncollectable, we should make the following journal entry: Debit Bad Debt Expense $20,000, credit Allowance for Doubtful Accounts $20,000. Debit Bad Debt Expense $13,000, credit Allowance for Doubtful Accounts $13,000. Debit Bad Debt Expense $20,000, credit Allowance for Doubtful Accounts $20,000. Debit Bad Debt Expense $2,000, credit Allowance for Doubtful Accounts $2,000. . Following our recognition of Bad Debt Expense using either method, we write off a customer account for $12,000 due to her bankmptcjv. The effect of this Miteoff is? Decrease assets by $12,000. Decrease net income by $12,000. Decrease accounts receivable and net realizable receivables by $12,000. Have no effect. . We have a Note Receivable for $000,000 which carries a 0 percent interest rate and will last for six months. Which of the following is true when accounting for the note: Total interest on the note will be $30,000. . When the note matures, we will receive $000,000. Interest Revenue of $10,000 will be recognized if we do annual financial statements. Interest Expense of $10,000 will be recognized if we do annual financial statements. We purchase Land for $120,000. In connection with the purchase we pa};r legal fees of $1,000, commissions of $20,000, clearing expense to prep the land for use of $40,000 and interest on a loan we made to purchase the land in the amount of $1,000. At what amount should we record the land on our books? $120,000 $102,000 $101,000 $141,100