Instructions \begin{tabular}{|c|c|c|} \hline Aging Class (Number of Days Past Due) & Aeceivables Balance on December 31 & Estimated Percent of Uncollectble Accounts \\ \hline 030 days & $321,500 & 1% \\ \hline 3) 60 days & 199.200 & 3 \\ \hline 6190 days & 23,300 & 12 \\ \hline 91120 days & 18,900 & 35 \\ \hline More than mo days & 42,300 & 71 \\ \hline Total receivables & $515,200 & \\ \hline \end{tabular} Required: Aequired: a. Journalize the transactions under the direct wrie-off method, Refor to the chart of accounts for the exact wording of the account bibles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for dobit or credit entries. CNOW/joumals wil automatically indent a credit enty when a credit amount is entered. If no entry is required, simply skip to tho next transaction. b. Joumalize the transactions under the allowance method, assuming that the allowanco acoount had a beginning credit balance of \$35,500 on January t and the company uses the analysis of receivables mothod. Fotor to the chart of accounts for the exact wording of the account sites. CNOW joumals det ot use ines for jounde explanations. Every ine on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credt amount is entered. If no enty is requirod, simply ship to the next transaction. C. How much higher (lowor) would Rustic Tables' net income have been under the diroct write-off method than inder the allowance methoo? Entries for bad debt expense under the direct write-off and allowance methods instructions Doc Ruste Tatiles Compay preswed the folowing aging schedule for its accounts receivable Instructions \begin{tabular}{|c|c|c|} \hline Aging Class (Number of Days Past Due) & Aeceivables Balance on December 31 & Estimated Percent of Uncollectble Accounts \\ \hline 030 days & $321,500 & 1% \\ \hline 3) 60 days & 199.200 & 3 \\ \hline 6190 days & 23,300 & 12 \\ \hline 91120 days & 18,900 & 35 \\ \hline More than mo days & 42,300 & 71 \\ \hline Total receivables & $515,200 & \\ \hline \end{tabular} Required: Aequired: a. Journalize the transactions under the direct wrie-off method, Refor to the chart of accounts for the exact wording of the account bibles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for dobit or credit entries. CNOW/joumals wil automatically indent a credit enty when a credit amount is entered. If no entry is required, simply skip to tho next transaction. b. Joumalize the transactions under the allowance method, assuming that the allowanco acoount had a beginning credit balance of \$35,500 on January t and the company uses the analysis of receivables mothod. Fotor to the chart of accounts for the exact wording of the account sites. CNOW joumals det ot use ines for jounde explanations. Every ine on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credt amount is entered. If no enty is requirod, simply ship to the next transaction. C. How much higher (lowor) would Rustic Tables' net income have been under the diroct write-off method than inder the allowance methoo? Entries for bad debt expense under the direct write-off and allowance methods instructions Doc Ruste Tatiles Compay preswed the folowing aging schedule for its accounts receivable
