The Allowance for Doubtful Accounts has a $400 credit balance. An aging schedule shows that total estimated bad debts is $3,600. The adjusting entry will require a debit and a credit for

show entry for $400 credit balance and $400 debit balance

A company issues a 60-day, 8% note for $18,000. The maturity value of the note is

The journal entry written on the maturity date by the holder of a 3-month, 12%, $15,000 note, assuming that the note is paid in full, will include a debit to Cash for $15,000

credit to Notes Receivable for $15,450

debit to Interest Revenue for $450

debit to Cash for $15,450

A company holds a 90-day 12%, $18,000 note which it received on December 1 The adjusting entry for this note on December 31 includes a:

debit to Interest Receivable for $540

credit to Notes Receivable for $180

credit to Interest Revenue for $180

credit to Interest Revenue for $540