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, $3,710 Aug. 14. Received $2,630 as partial payment on the $6,640 account of Rosalie Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $3,710 from Kathy Quantel, which had been written off on June 8. Reinstated the account and recorded the cash recelpt Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry) Wade Dolan Greg Gagne Amber Kisko Shannon Poole Niki Spence $1,080 670 2,560 1,480 410 Dec. 31 If necessary, record the year-end adjusting entry for the uncollectible accounts The 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 $178,000 Estimated Percent of Uncollectible Accounts 2% 67,000 21,000 20 Check My Work Previous Next and Exit Submit Assignment for Grading