During August 2024, Bingham Company recorded the following: Requirements Sales of $93,200 ($77,000 on account: $16,200 for cash). Ignore Cost of Goods Sold. 1. Journalize Bingham's transactions during August 2024, assuming Bingham uses the direct write-off method. Collections on account, $58,900. 2. Journalize Bingham's transactions during August 2024, assuming Bingham uses the allowance method. Write-offs of uncollectible receivables, $1,060. Recovery of receivable previously written off, $600. emo :0 Requirement 1. Journalize Bingham's transactions during August 2024, assuming Bingham uses the direct write-off method. Sales of $93,200 ($77,000 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) Date Accounts and Explanation Debit Credit Aug