A 90 day

A 90-day, 12% note for $20,000, dated April 10, is received from a customer on account. If the note is discounted at 15% on May 10, the due date is 8. July 9 b. July 10O C. July 11 d. July 8 9, ay, 12% note for $20,000, dated April 10, is received from a customer on account. If the note is A 90-d discounted at 15% on May 10, the days in the discount period are a. 60 b. 90 C. 120 d. 30 ABC company uses the estimate of sales method of accounting for uncollectible accounts. ABC estimat that 3% of all credit sales will be uncollectible. On January 1, 2005, the Allowance for Doubtful Acco had a credit balance of $2,400. During 2005, ABC wrote-off accounts receivable totaling $1,800 and made credit sales of $100,000. After the adjusting entry, the December 31, 2005, balance in the Uncollectible Accounts Expense would be