Entries for Bad Debt Expense Under the Direct Write-off and Allowance Methods Thelollowing selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: June 3. Wrote off account of Kathy Quantel, $8,990. Aug. 14. Received $6,380 as partial payment on the $16,090 account of Rosalle Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $8,990 from Kathy Quantel, whose account had been written off on June 8. Reil stated the account and recorded the c Dec 31 Wrote of the following accounts as uncollectible (record as one journal entry): $2,610 Wade Dolan Greg Gagne 1.620 Amber Kisko 6,200 Shannon Pool 3,600 Niki Spence 990 Dec. 31 If necessary, record the year-end adjusting entry for uncollectible accounts. Rustic Tablet Company prepared the following aging schedule for its accounts recevable: Aging Class (Number Receivables Balance of Days Past Due) on December 31 0-30 days 5432,000 31-60 days 162,000 Estimated Percent of Uncollectible Accounts 1% Aging Class (Number of Days Past Due) Receivables Balance on December 31 $432,000 Estimated Percent of Uncollectible Accounts 0-30 days 1% 31-60 days 162,000 8 61-90 days 51,000 20 45 91-120 days More than 120 days Total receivables 19,000 26,000 80 $690,000 fan amount box does not require an entry, leave it blank. If an account is not required, select "No Entry" from the dropdown box(es). Joumalize the transactions under the direct write-off method. June 8. Bad Debt Expense Accounts Receivable-Kathy Quantel Aug. 14 Cash Bad Debt Expense Accounts Receivable-Rosalie Oakes Oct. 16-reinstate Accounts Receivable-Kathy Quantel Bad Debt Expense Oct, 16-collection Cash Accounts Receivable-Kathy Quantel Dec. 31-write-off Bad Debt Expense Accounts Receivable-Wade Dolan Accounts Receivable-Greg Gagne Accounts Receivable-Amber Kisko Accounts Receivable-Shannon Poole Accounts Receivable-Niki Spence Dec. 31-adjusting No Entry No Entry I Feedback Check My Work b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning credit balance of $26,970 on January 1 and the company uses the analysis of receivables method. June 8 Allowance for Doubtful Accounts . chat the allowance account had a beginning credit balance of $26,970 on January 1 and the company uses the analysis of receivables method. June 8 Allowance for Doubtful Accounts Accounts Receivable-Kathy Quantel Aug. 14 Cash Allowance for Doubtful Accounts Accounts Receivable-Rosalie Oakes Oct 16-reinstate Accounts Receivable-Kathy Quantel Allowance for Doubtful Accounts Oct. 16-collection Cash Accounts Receivable-Kathy Quante! Dec 31-write-off Allowance for Doubtful Accounts Accounts Receivable-Wade Dolan Accounts Receivable-Greg Gagne Accounts Receivable Amber Kisko Accounts Receivable Shannon Poole Accounts Receivable Niki Spence Accounts Receivable-Kathy Quantel 11 Dec. 31-write-off Allowance for Doubtful Accounts Accounts Receivable-Wade Dolan Accounts Receivable-Greg Gagne Accounts Receivable-Amber Kisko Accounts Receivable-Shannon Poole Accounts Receivable-Niki Spence