Q7: Why dont we just show the net balance of accounts receivable? Why bother showing the deduction of the allowance account on the balance sheet?

Q8: Since we deduct the allowance from Accounts Receivable, why not just simplify things and credit Accounts Receivable directly and forget about the allowance?

Q9: Why do we recognize (record) interest revenue when a note is dishonored? We didnt receive the money, so why report the revenue? Could we report the interest as a receivable instead?