. During August 2016, Yond Company recorded the following: Sales of $102,400 ($88,000 on account: $14,400 for cash). Ignore Cost of Goods Sold. Collections on account, $76,400. Write-offs of uncollectible receivables, $990 Recovery of receivable previously written off, $300 Requirements 1. Journalize Yond's transactions during August 2016, assuming Yond uses the direct write-off method. 2. Journalize Yond's transactions during August 2016, assuming Yond uses the allowance method Requirement 1. Journalize Yond's transactions during August 2016, assuming Yond uses the direct write-off method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sales of $102,400 ($88,000 on account: $14,400 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and explanation Debit Credit Aug Collections on account, $76,400 Date Accounts and Explanation Aug Debit Credit