During August 2018, Texit Company recorded the following: Sales of $60,200 ($55,000 on account: $5,200 for cash). Ignore Cost of Goods Sold. Collections on account, $40,600. Write-offs of uncollectible receivables, $1,320 Recovery of receivable previously written off $900. Requirements 1. Journalize Texit's transactions during August 2018, assuming Texit uses the direct write-off method. Journalize Texit's transactions during August 2018, assuming Texit uses the allowance method. Requirement 1. Journalize Texit's transactions during August 2018, assuming Texit uses the direct write-off method. Sales of $60,200 ($55,000 on account: $5,200 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) Date Accounts and Explanation Debit Credit Aug