Question 18 1.5 pts Under the allowance method, when an account is written off, total assets decrease. True False Previous Next Question 19 2.5 pts On October 1, Robins's Online Sales sold goods for $50,000 and accepted a six-month noninterest bearing note. Current interest rates were 10%. The December 31 adjusting entry should be Debit Interest Receivable 2,500: Credit Interest Revenue 2,500 Debit Discount on Notes Receivable 1,250: Credit Interest Revenue 1,250 Debit Interest Revenue 1.250: Credit Discount on Notes Receivable 1.250 Debit Discount on Notes Receivable 2,500: Credit Interest Receivable 2.500 Previous Next