During August 2018. Lough Company recorded the following Sales of $104200 (599,000 on account, $5,200 for cash) Ignore Cost of Goods Sold Collections on account, 584,600 Write-offs of uncollectible receivables, 51,820 Recovery of receivable previously written off, $1,100 Question Help Requirements 1 Journalize Lough's transactions during August 2018, assuming Lough uses the direct write-ot method 2 Joumalize Loughis transactions during August 2018, Sating 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 ($99,000 on account, $5 200 for cash) ignore Cost of Goods Sold (Record debts first, then credits Select the explanation on the last ine of the journal entry table. Prepare a single compound journal entry) Date Accounts and Explanation Credit Debit Choose from any list or enter any number in the input fields and then click Check