Allowance for Doubtful Accounts 45,545 b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning balance of $36,000 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) Estimated Percent of Uncollectible Accounts 0-30 days 31-60 days 61-90 days 91-120 days More than 120 days Total receivables Receivables Balance on December 31 $320,000 110,000 24,000 18,000 43,000 $515,000 June 8 Aug. 14 'I HII II Oct. 16-reinstate DO III I Oct. 16-collection Dec. 31-write-off Previous Save and Exit Submit Test for Grading All work saved 304 PM Total receivables $515,000 June 8 Aug. 14 Oct. 16-reinstate I WII W Oct. 16-collection I Dec. 31-write-off I w Dec. 31-adjusting I C. How much higher (lower) would Rustic Tables' net income have been under the direct write-off method than under the allowance method? by Previous Save and Exit Submit Test for Grading All work saved AOD 3:04 PM 11102019