QUESTION 4 On December 31, Hallmark Ltd. estimates that 8% of total accounts receivable will become uncollectible. Accounts receivable are $50,000 at this point in time, and the Allowance for Doubtful Accounts has a balance of $2,000 prior to recording any year-end adjusting entries. Calculate the amount of adjustment to the AFDA account (i.e., by how much should AFDA be changed) QUESTION 5 A Montreal Bank issued a 6-months $100,000 note receivable to a customer on January 1, 2018. The stated interest rate is 6%, and it is payable the first day of each month starting February 1, 2018. Explain impacts on the financial statements 1) at issuance and 2) for the first month (i.e., on January 31, 2018) 3) at maturity of the note (i.e., last interest payment as well as receipt of principal)