On June 1, 2024, Peak Performance Cell Phones sold $25,000 of merchandise to Antonio Trucking Company on account Alonio fell on hard times and on July 15 paid only $8.500 of the account receivable. After repeated attempts to colect, Peak Performance finally wrote off its accounts receivable from Antonio on September 5. Six months later, March 5, 2025, Peak Performance received Antonio's check for $16,500 with a note apologizing for the late payment Read the requirements Requirement 1. Joumalize the transactions for Peak Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold Record dubits first, then, credits. Select the explanation on the last line of the journal entry table) June 1: Peak Performance Cell Phones sold $25,000 of merchandise to Antonio Trucking Company on account ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer. i Requirements X 1. Journalize the transactions for Peak Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold. 2. What are some limitations that Peak Performance will encounter when using the direct write-off method? Date Accounts and Explanation Debit Credit Jun. 1 Choose from any list or enter any number in the input fields and then click Check