Question 1.7 2 points The Allowance for Doubtful accounts is a contra asset account. O True False Question 1.8 2 points The longer an accounts receivable remains unpaid, the more likely it is to be collected. O True O False Question 1.9 2 points A company borrowed $5,000 by signing a three month note receivable at 8% interest. The total amount of interest on the note is $100. O True False