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On May 31, a company had a balance in its accounts receivable of $103,895. Prepare the company's following transactions for June.

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When using the allowance method of accounting for uncollectible accounts, the recovery of a bad debt would be recorded as a debit to Cash and a credit to Bad Debts Expense.

A) True
B) False

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A company receives a 7.5%, six-month note for $8,900. The total interest due on the maturity date is:


A) $66,750.00
B) $4,005.00
C) $2,002.50
D) $667.50
E) $333.75

F) B) and D)
G) C) and D)

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