The book value of an asset when using double-declining balance depreciation the end of the user's useful life when it is the same O True Which of the following is not true about the Allowance for Doubtful Accounts? O It is a contra asset account. O It is debited when uncollectible accounts are written off. O It is used instead of reducing accounts receivable directly. It is a liability account. O It is credited when bad debts expense is estimated and recorded. The aging method of determining bad debts expense is based on the knowledge that the longer a receivable is past due, the higher the likelihood of collection O True O False On November 19, Nicholson Company receives a $15.000. 60-day, 8% note from ustomer as payment on account What adjusting entry should be made on the December 31 year O Debit interest Receivable $1200. credit Interest Revenue S1200 O Debit interest Receivable $200.credit interest Revenue $200 O Debit interest Revenue 3140 credit Interest Receivable $100 OOOO Debit interest Revenue $200: credit interest Receivable $200. Debit interest Receivable $140. credit interest Revenue $140