Your Corporation lent $21,000 to the West Co. on June 1, 2019. The repayment of the loan and the interest is due on June 1, 2020. The interest rate is 8%. How much interest would you record in the 2020 financials? $ 980 $ 640 $1,680 $ 840 $ 700 On September 1, a customer's account balance of $7,650 was deemed to be uncollectible. What entry should be recorded on September 1 to record the write-off? Your Company uses the allowance method. 7,650 Accounts Receivable Allowance for doubtful accounts 7,650 Allowance for doubtful accounts 7,650 Accounts Receivable 7,650 7,650 Bad debt expense Allowance for doubtful accounts 7,650 7,650 Bad debt expense Accounts Receivable 7.650 Allowance for doubtful accounts 7,650 Bad debt expense 7,650