Please explain each question and show how you arrived at the answer.

On August 1, 2012, Turner Manufacturing lends cash and accepts a $9,000 note receivable that offers 4% interest and is due in nine months, interest and is due in nine months. How would Turner record the year- end adjustment to accrue interest in 2012? (Round your answer to the nearest dollar amount.) Interest Receivable 360 Interest Revenue 360 Interest Revenue 1551 Interest Receivable 155 Interest Receivable 150 Interest Revenue 150 Interest Receivable 1551 Interest Revenue 155 23. On December 31, 2012, Larry's Used Cars had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $57,000 and $1,175 respectively. During 2013, Larry's wrote off $2,375 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,250 at December 31, 2013. Bad debt expense for 2013 would be: $1,175 $4,050, $5,250 $6,450, 24. On December 31, 2012, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and $2,450, respectively. During 2013, Coolwear wrote off $925 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,900 at December 31, 2013. Bad debt expense for 2013 would be: $4,900 $3,975. $925. $3,375, 25. At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $380,000 and S1,430 (debit) in Allowance for Uncolectible Accounts. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable, Bad debt expense for the year should be: $18,531. $13,770. $1.430. $16,630. 26. On February 1, 2012, Middleton Corp. lends cash and accepts a $4,000 note receivable that offers 4% interest and is due in six months. How much interest revenue will Middleton Corp report during 2012? $960, $80. $61. $160