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On August 31, 2016, Dasy Florel Supply had a $155,000 debit balance in Acocunts Receivable and a 56.200 credit balance in Allowance for Bad Debts. During September, Dasy mede - Sales on acooumt, $550,000, lonore Cost of Goods Sold - Collections on account, $534,000. - Wile-offs of uncolectible recevables, $9,000 Resd the tequintrients crupe Wrate ef incoloctible accoun's Journalze the Bad Detts Expense for Soplember using the alowance method. Bad Debts Expense was estimaled at 1% of credi sales. account belance at Seplember 30,7016 ) 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 1% of credit sales. Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts). 2. Using the same facts, assume that Daisy used the direct write-off method to account for uncollectible receivables. Journalize all September entries using the direct write-off method. Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2016. 3. What amount of Bad Debts Expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason. 4. What amount of net accounts receivable would Daisy report on its September 30, 2016, balance sheet under each of the two methods? Which amount is more realistic? Give your reason. On August 31, 2016, Dasy Florel Supply had a $155,000 debit balance in Acocunts Receivable and a 56.200 credit balance in Allowance for Bad Debts. During September, Dasy mede - Sales on acooumt, $550,000, lonore Cost of Goods Sold - Collections on account, $534,000. - Wile-offs of uncolectible recevables, $9,000 Resd the tequintrients crupe Wrate ef incoloctible accoun's Journalze the Bad Detts Expense for Soplember using the alowance method. Bad Debts Expense was estimaled at 1% of credi sales. account belance at Seplember 30,7016 ) 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 1% of credit sales. Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts). 2. Using the same facts, assume that Daisy used the direct write-off method to account for uncollectible receivables. Journalize all September entries using the direct write-off method. Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2016. 3. What amount of Bad Debts Expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason. 4. What amount of net accounts receivable would Daisy report on its September 30, 2016, balance sheet under each of the two methods? Which amount is more realistic? Give your reason