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What is the amount of the interest expense associated

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Q1. As of December 31, 2020, Gill Co. reported accounts receivable of $228,000 and an allowance for uncollectible accounts of $8600. During 2018, accounts receivable increased by $22,500, (that change includes $7300 of bad debts that were written off). An analysis of Gill Co.'s December 31, 2021, accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for 2018 would be?

Q2. Currie Company borrowed $11,000 from Sierra Bank by issuing a 11% three-year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $4,121. Based on this information, what is the amount of the interest expense associated with the second payment?

Reference no: EM133157414

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