On January 1, Benson Industries (a calendar year end corporation) loaned Olson Inc. $15,000 cash on a 6-month, 8% note. Interest will be paid at maturity. Compute the amount of interest that Benson Industries will receive at maturity.On December 31, Cosgrove Corporation (a calendar year end corporation) reports an ending balance in accounts receivable (before any adjustments) of $180,000, and total credit sales of $2,000,000 for the year ended December 31, 2023. Crane and Co uses the allowance method to account for uncollectible accounts. Assume Allowance for Doubtful Accounts has an unadjusted balance of ($2,200). Compute the amount of bad debt expense that Cosgrove Corporation will record on December 31, assuming that they use the Percentage of Receivables method to estimate uncollectible accounts. Cosgrove prepared the following aging-of-receivables schedule: Age of Account Accounts Receivable Balance, Dec. 31 Estimated Uncollectible Percentage Current $102,000 2% 1-30 days past due 46,000 4% 31-90 days past due 18,400 10% 91-180 days past due 8,000 30% Over 180 days past due 5,600 50% Total $180,000

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