The following information comes from the accounts of James Company on December 31:

Account Title

Accounts receivable

Allowance for doubtful accounts

Note receivable

Interest receivable

Beginning Balance

$26,500

1,610

54,200

840

Ending Balance

$35,400

2,650

54,200

4,607

Required

1. There were $176,300 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period?
2. The note receivable has an annual interest rate of 4.25 percent and a two-year term (8.50 percent interest rate over the life of the note). What amount of interest revenue was recognized during the period? How much cash was collected from interest? (Round your answers to the nearest dollar amount.)

The following information comes from the accounts of James Company on December 31: Required a. There were $176,300 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. Wi the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on th income statement? What was the net realizable value of receivables at the end of the accounting period? b. The note receivable has an annual interest rate of 4.25 percent and a two-year term (8.50 percent interest rate over the life of note). What amount of interest revenue was recognized during the period? How much cash was collected from interest? (Rour your answers to the nearest dollar amount.) Complete this question by entering your answers in the tabs below. There were $176,300 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash coliected from accounts receivabie?. What amount of uncoliectible accounts expense was What was the amount of cash coliected from accounts receivabie? What amount or uncowcctise accuse reported on the income statement? What was the net realizable value of recelvables at the end of the accounting pericel