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Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Method The following selected transactions were taken from the records of Rustic Tables Company

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Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Method The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: June 8. Wrote off account of Kathy Quantel, $6,630. Aug. 14. Received $4,710 as partial payment on the $11,870 account of Rosalle Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $6,630 from Kathy Quantel, whose account had been written off on June 8, Reinstated the account and recorded the cash receipt Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry): Wade Dolan $1,920 Greg Gagne 1,190 Amber Kisko 4,570 Shannon Poole 2.650 Niki Spence 730 Dec. 31. If necessary, record the year-end adjusting entry for uncollectible accounts If no entry is required, select "No entry and leave the amount boxes blank. If an amount box does not require an entry leave it blank a. Journalize the transactions under the direct write-off method June Aug. 14 Oct 16 JU EBOOK Dec. 31. If necessary, record the year-end adjusting entry for uncollectible accounts, It no entry is required, select "No entry and leave the amount boxes blank. If an amount box does not require an entry, leave it blank a. Journalize the transactions under the direct write-off method. June 8 Aug. 14 Oct. 16 II Oct. 16 Dec 31 Dec. 31 E b. Journalise the transactions under the allowance method ming that the allowance account had a beginning balance of 519.490 m the beginning of the year and the company then Treibles method Rusticas Company prepared the following aging schedule for its accounts receivable Estimated Percent of Uncollectible Accounts Aging Class (Number of Days Past Due) 0-30 31-60 days 51.90 days 91-120 den More than 120 days Receivables Balance on December 31 $310.000 119.000 35,000 14,000 19.000 $500.000 25 55 0 Total receivables June Aug 14 II III II II III II III II Oct 10 Oct 16 Dec 31 June 8 Aug. 14 ll Oct. 16 Oct 16 Dec. 31 Dec 31 I C. How much higher (lower) would Rustic Tables net income bave been under the direct write off method than under the allowance method? by

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