The Company learns from a bankruptcy court they will not collect an outstanding accounts receivable. Assuming the Company uses the Allowance Method, the journal entry to directly write off the accounts receivable will not change the Net Accounts Receivable Balance on the Balance Sheet. True False QUESTION 3 3 points Save Art The Wales Company loans an employee $5,000 cash by executing a 6%, one year note receivable agreement on October 1, 2020. The entry to record the Note Receivable would be: O A Debit Cash 55,300; Credit Note Receivable $5,300 OB. Debit Note Receivable $300; Credit Cash $300 Debit Cash 85.000; Credit Note Receivable 55,000 D Debit Note Receivable 55,000; Credit Cash $5,000