A note receivable issued on October 1st. that has a face value of $2,000 with a 10%. What is the interest revenue at December 31st? Answer: Hala Wala's Co. credit officer decided that $500 of the account receivable is uncollectible. The journal entry for this transaction using direct write-off method is: Bad Debit Expenses $500 Cash $500 Select one: O True O False An account receivable has a balance of $100,000 and uncollectable is estimated at 2%. The journal entry to establish the allowance balance is: Account Receivable $2,000 $2,000 Allowance of Doubtful Debts Select one: O True O False