ID: B 5. Posner Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2011: Customer J. Jackson Amount $10,000 L. Stanton 9,500 C. Barton 13,100 S. Fenton 2.400 Total $35.000 Required: (1) Journalize the write-offs for 2011 under the direct write-off method (2) Journalize the write-offs for 2011 under the allowance method. Also, journalize the adjusting entry for uncollectible receivables assuming the company made $2,400,000 of credit sales during 2011 and the industry average for uncollectible receivables is 1.50% of credit sales