During August 2018, Lough Company recorded the following: Sales of $104,200 ($88,000 on account; $16,200 for cash). Ignore Cost of Goods Sold. Collections on account, $69,900. Write-offs of uncollectible receivables, $1,900. Recovery of receivable previously written off, $300. Requirements 1. 2. Journalize Lough's transactions during August 2018, assuming Lough uses the direct write-off method. Journalize Lough's transactions during August 2018, assuming Lough uses the allowance method. Requirement 1. Journalize Lough's transactions during August 2018, assuming Lough uses the direct write-off method. Sales of $104,200 ($88,000 on account; $16,200 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 Date Debit Credit Aug.