EX 9-14 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, $8,440. Aug. 14. Received $3,000 as partial payment on the $12,500 account of Rosalie Oakes. OBJ. 5 1,090 higher Excel Wrote off the remaining balance as uncollectible. Oct. 16. Received the $8,440 from Kathy Quantel, whose account had been written off How 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 Greg Gagne Amber Kisko Shannon Poole Niki Spence $4,600 ,600 7.150 2.975 6,630 31. If necessary, record the year-end adjusting entry for uncollectible accounts a. journalize the transactions under the direct write-off method b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning credit balance of $36,000 on January 1 and the company uses the analysis of receivables method. Rustic Tables Company prepared the following aging schedule for its accounts receivable Estimated Percent of Uncollectible Accounts Aging Class (Number Receivables Balance of Days Past Due) 0-30 days 31-60 days 61-90 days 91-120 days More than 120 days on December 31 $320,000 110,000 196 10 75 24,000 18,000 Total receivables $515,000 Continued) d