Learning Objective 5: Compare the direct write-off and allowance methods of accounting for uncollectible accounts. a) What are the main differences between the direct write-off and allowance methods? Learning Objective 6: Describe the accounting for notes receivable. a) How would you record transactions to show the receipt and collection of a note receivable? b) What is the correct journal entry used to record a dishonored note receivable? c) What is the adjusting entry required to record accrued interest revenue? Learning Objective 7: Describe the reporting of receivables on the balance sheet. a) How would you classify the various types of receivables and report the amounts on the balance sheet