dise eBook Print Item 4 Entries for Bad Debt Expense Under the Direct Write-off and Allowance Methods Seaforth International wrote off the following accounts receivable as uncollectible for the year ending December 31: Customer Amount Kim Abel Lee Drake Jenny Green $24,300 31,195 29,715 17,890 $103,100 Mike Lamb Total The company prepared the following aging schedule for its accounts receivable on December 31: Aging Class (Number of Days Past Due) Receivables Balance on December 31 Estimated Percent of Uncollectible Accounts 1 % 0-30 days 31-60 days 61-90 days 2 15 91-120 days $735,000 290,000 111,000 70,000 94,000 $1,300,800 30 More than 120 days 60 Total receivables a. Journalize the write-offs under the direct write-off method. If an amount box does not require an entry, leave it blank. Check My Work und SALE Submit Assement for Book Printem TO * Total receivables $1,300,000 a. Journalize the write-offs under the direct write-off method. If an amount box does not require an entry, leave it blank b. Journalize the write-offs and the year-end adjusting entry under the allowance method, assuming that the allowance account had a beginning balance of 589,000 and the company uses the analysis of receivables method. If an amount box does not require an entry, leave it blank Il c. How much higher (lower) would Seaforth International's net income have been under the allowance method than under the direct write-off method? Higher