E8-21 (similar to) Question Help During August 2018, Bingham Company recorded the following: Sales of $139,800 (S133,000 on account: 56.800 for cash). Ignore Cost of Goods Sold. Collections on account, S122,800. Write-offs of uncollectible receivables, $1,750. Recovery of receivable previously written off, $500. Requirements 1. Journalize Bingham's transactions during August 2018, assuming Binghamri uses the direct write-off method. 2. Journalize Bingham's transactions during August 2018, assuming Bingham uses the allowance method. Requirement 1. Joumalize Bingham's transactions during August 2018, assurning Bingham uses the direct write-off method. Sales of $139,800 ($133,000 on account: $6,800 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