Zappy's Company borrowed $250,000 on January 1, 2015. The note carried a 4% annual interest rate and required annual payments each December 31st for 4 years of $68,873 each. 57. The portion of the payment which will be applied to principal in 2016 will be: B4 a. $68,873 b. $62,500 C. $58,873 d. $61,228 58. The balance in the notes payable account (after the annual payment is made) on the 12/31/15 balance sheet will be: B a. $250,000 b. $191,127 C. $181,127 d. $240,000 Your business uses the allowance method to account for uncollectible receivables. At the beginning of the year, the balance in accounts receivable was $10,000 and the balance in the allowance for doubtful accounts (AFDA) was $1,800. During the year the business had sales on account of $25,000 and wrote off a $2,000 uncollectible account. The company estimates that 7% of their accounts receivable balance won't be collectible. 55. What is the uncollectible accounts (bad debt) expense for the year? a. $2,510 b. $2,310 c. $2,110- d. $5100 56. What is the net realizable value of accounts receivable at the end of the year? a $30,890 b. $33,000 c. $30,490 d. $30,690