10 Be Deli De a Book Show Me How Print tem Entries for Bad Debt Expense Under the Direct write-Off and Allowance Method The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: June 8. Wrote off account of Kathy Quantel, $6,790. Aug. 14. Received $4,820 as partial payment on the $12,150 account of Rosalle Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $6,790 from Kathy Quantel, whose account had been written off on June 8. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry): Wade Dolan $1,970 Greg Gagne Amber Kisko 1,220 4.690 Shannon Poole 4 2.720 Spence 750 Dec. 31. necessary, record the year-end adjusting entry for uncollectible accounts. entry is required, select "ho entry and leave the amount boxes Stank. If an amount box does not require an entry leave it blank 6.790 Aug 14 Cast 021 Dec. 31. If necessary, record the year-end adjusting entry for uncollectible accounts. If no entry is required, select "No entry" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank, a. Journalize the transactions under the direct write-off method. June 8 Bad Debt Expense Accounts Receivable-Kathy Quantel 6740 Aug. 14 Cash Oct. 16 Accounts Receivable-Kathy Quantel Oct 16 Cash Accounts Receivable Kathy Quantel Dec 31 Bad Dept Expente Accounts Receivable Wade Rolan Accounts Recent Com Bacovable Limbet Klikn Ketelated Shannon sale. Sest! Pens 30 30 30 30 30 008 08 18 18999 ebook Show Me How Print tem Dec. 31 Debt Expense Allowance for Doubtful Accounts b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning balance of 129,370 at the beginning of the year and the company uses the analysis of receivables method. Rustic Tables Company prepared the following aging schedule for its accounts receivable: Aging Class (Number of Days Past Due) 0-30 days Receivables Balance on December 31 Estimated Percent of Uncollectible Accounts $325,000 31-60 days 122,000 a 61-90 days 39,000 91-120 days 14,000 More than 120 days 20,000 Total receivables $521.000 Aug 14 Chock My Work more Chell My maing 25 50 90 June 8 Aug. 14 Oct. 16 Oct. 16 Dec. 31 Dec. 31 Check My Work 2 mins Check My king 4015 10% Oct. 16 Dec. 31 Dec. 31 c. How much higher (lower) would Rustic Tables net income have been under the direct write-off method than under the allowance method Higher by Previous Next >> Check My Work 2 more Check My Work uses remaining All work saved Emad Instructor