Entries for bad debt expense under the direct write-off and allowance methods Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31 : a. Journalize the write-offs under the direct write-off method. If an amount box does not require an entry, leave it blank. b. Journalize the write-offs under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $5,250,000 of cre during the year. Based on past history and industry averages, 3/4% of credit sales are expected to be uncollectible. If an amount box does not require an entry, I blank. c. How much higher (lower) would Casebolt Company's net income have been under the direct write-off method than under the allowance method? by $