During August 2024 Link:

During August 2024, Link Company recorded the following: Requirements - Sales of $70,000($55,000 on account, $15,000 1. Journalize Link's transactions during August 2024, assuming Link uses the direct write-off for cash). Ignore Cost of Goods Sold. - Collections on account, $42,100. method. 2. Journalize Link's transactions during August - Write-offs of uncollectible receivables, $1,110 2024, assuming Link uses the allowance - Recovery of receivable previously written off, $600. method. Requirement 1. Journalize Link's transactions during August 2024, assuming Link uses the direct write-off method. Sales of $70,000 ( $55,000 on account $15,000 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 joumal entry.)