1- O During August 2024, Texit Company recorded the following: Sales of $83,800 ($77,000 ch account; $6,800 for cash). Ignore Cost of Goods Sold. Collections on account, $58,900. Write-offs of uncollectible receivables, $1,900. Recovery of receivable previously written off, $400. Date Aug. Requirement 1. Journalize Texit's transactions during August 2024, assuming Texit uses the direct write-off method. Sales of $83,800 ($77,000 on account; $6,800 for cash). Ignore Cost of Goods Sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Accounts and Explanation Collections on account, $58,900. Date Aug. Accounts and Explanation Write-offs of uncollectible receivables, $1,900. Date Accounts and Explanation Debit Debit Debit Credit Credit CE Credit Requirements Journalize Texit's transactions during August 2024, assuming Texit uses the direct write-off method. Journalize Texit's transactions during August 2024, assuming Texit uses the allowance method. 1. 2.

+ Colleston on accoum $55900 Eequirements Cile ture en arva mt season. Write-offs of uncollectible receivables, $1,900. Recovery of receivable previously written off, $400. Start by preparing the entry to reinstate the re Now prepare the entry to show the collection of the previously written off receivable. Requirement 2. Journalize Texit's transactions during August 2024, assuming Texit uses the allowance method. Sales of $83,800 ( $77,000 on account; $6,800 for cash). Ignore Cost of Goods Sold. (Record debits first, then credits. Sele Collections on account, $58,900. Write-offs of uncollectible receivables, $1,900. Recovery of receivable previously written off, $400. Start by preparing the entry to reinstate the receivable. Now prepare the entry to show the collection of the previously written off receivable