Question 3 (2 points) Notes receivable are sometimes used to settle a customer's accounts receivable. True False Question 4 (2 points) The allowance method is required by generally accepted accounting principles and the direct write-off method is not allowed. True False Question 5 (2 points) Interest revenue collected on a note receivable is considered an additional sale. (okay, this is false because we aren't the business of selling loans. So to us, this is an other income and not a sale answer this false.) True False Question 6 (2 points) Allowance for doubtful accounts is a contra-asset account with a credit balance. True False