Use the following information: Accounts receivable, beginning of year: $16,000 Allowance for Uncollectible Accounts, beginning of year: $1,200 Net credit sales during the year: $103,000 Collections on accounts receivable during the year: $97,000 Delinquent accounts written off during the year: $1,600 Assume all accounts have normal balances. If bad debts are estimated to be 10% of ending accounts receivable, the adjusting entry to recognize bad debts would debit bad debt expense for $2.600 $2.040 $840 $2.440 On December 1, 2019, Angelo Company accepted a $60,000, 8%, 90-day note receivable for services rendered to a client. Assume the correct adjusting journal entry is made at the end of the accounting period on December 31, 2019. The journal entry to record the proceeds from the note at maturity will NOT include a credit to interest revenue for $800 credit to notes receivable for $60,000 credit to interest receivable for $400 debit to cash for $64.800