On April 12, Mitch Company declared a \(\$ 2,000\) account receivable from the Ward Company as uncollectible and wrote off the account. On

a. Assume that Mitch uses the allowance method of handling credit losses. Prepare the journal entries to record the write-off and the subsequent recovery of Ward's account.

b. Assume that Mitch uses the direct write-off method of handling credit losses. Prepare the journal entries to record the write-off and the subsequent recovery of Ward's account.

c. Assume that the payment from Ward arrives on the following January 18 , rather than on December 5 of the current year. (1) Prepare the journal entries to record the write-off and subsequent recovery of Ward's account under the allowance method. (2) Prepare the journal entries to record the write-off and subsequent recovery of Ward's account under the direct write-off method.