Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Methods 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, $7,660. Aug. 14. Received $5,440 as partial payment on the $13,710 account of Rosalie Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $7,660 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 $2,220 Greg Gagne 1,380 Amber Kisko 5,290 Shannon Poole 3,060 Niki Spence 840 Dec. 31 If necessary, record the year-end adjusting entry for uncollectible accounts. Rustic Tables Company prepared the following aging schedule for its accounts receivable: Aging Class (Number of Days Past Due) 0-30 days 31-60 days 61-90 days Receivables Balance on December 31 $368,000 138,000 44,000 91-120 days 16,000 More than 120 days 22,000 Total receivables $588,000 Estimated Percent of Uncollectible Accounts 1% 8 25 55 75