VULOTTUN 40 Stato Stroet Beverage Company issues $805,000 of 9%, 10-year bonds on March 31, 2017. The bonds pay interest on March 31 and September 30. Which of the following statements is true? If the market rate of interest is 11%, the bonds will issue above par If the market rate of interest is 9%, the bonds will issue at a discount If the market rate of interest is 10%, the bonds will issue at par If the market rate of interest is 8%, The bonds will issue at a premium QUESTION 49 (Income statement approach) The Allowance for Bad Debts account has a credit balance of $3,000 before the adjusting entry for bad debts expense. The company's management estimates that 4% of net credit sales will be uncollectible for the year 2018. Net credit sales for the year amounted to $270,000 What will be the balance of Allowance for Bad Debts on the December 31, 2019 balance sheet? $7,800 $10,800 $3,000 $13,800