1. When a zero-interest-bearing note is issued, its present value is

A). the face value plus interest

B). the cash paid to the issuer.

C). zero.

2. Under the allowance method of recognizing uncollectible accounts, the entry to recognize the collection of a previously written off uncollectible account

A). increases the allowance for doubtful accounts.

B). has no effect on the allowance for doubtful accounts.

C). increases net income.