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Question 4 (1 point) A customer uses their Garys Sport Shop credit card to charge a treadmill at Gary's Sport Shop. The price is $1,000

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Question 4 (1 point) A customer uses their Garys Sport Shop credit card to charge a treadmill at Gary's Sport Shop. The price is $1,000 and the financing charge is 18% per annum if the bill is NOT paid in 30 days. The customer fails to pay the bill within 30 days and a finance charge is added to the customer's account. The accounts affected by the journal entry made by Gary's Sport Shop to record the finance charge are O DR Accounts Receivable, CR cash DR Cash, CR Finance Receivable O DR Accounts Receivable, CR Interest Revenue O DR Accounts Receivable, CR Interest Payable Question 5 (1 point) Under the allowance method, writing off an uncollectible account does what? It affects both balance sheet and income statement accounts. It affects only balance sheet accounts. It is not acceptable practice. It affects only income statement accounts

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