Fleetwood, Inc. signed a three-year note payable for $59,000 at 7% annual interest. What is the interest expense for 2019 if the note was signed on August 1, 2019? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

A) $4130

B) $12,390

C) $2065

D) $1721

In order to keep accurate records about the collection of cash for a previously written off account, a business should re-establish the Accounts Receivable by crediting the receivable account.

True or False.