Part 1 of 10 During August 2018, Lough Company recorded the following: Sales of $60,200 ($55,000 on account; $5,200 for cash). Ignore Cost of Goods Sold. Collections on account, $40,600. Write-offs of uncollectible receivables, $1,060. Recovery of receivable previously written off, $1,000. BR Debit Credit O Points: 0 of 1 2. Save Requirements 1. Journalize Lough's transactions during August 2018, assuming Lough uses the direct write-off method. Journalize Lough's transactions during August 2018, assuming Lough uses the allowance method. Requirement 1. Journalize Lough's transactions during August 2018, assuming Lough uses the direct write-off method. Sales of $60,200 ($55,000 on account; $5,200 for cash). Ignore Cost of Goods Sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Aug.

During August 2018, Leugh Company recorded the following - Sales of $60,200($55,000 on account, 55,200 for cash). lgnore Cost of Coods Sold - Colections on account $40,600 - Write-offt of uncollectible recelvables, $1,060 - Recovery of recelvable previously written off, $1,000. Requirements 1. Journalize Louglis transactions daring August 201 th, assuming Lough uses the direct wite-olf method. 2. Journalize Lough's transactons during Augynt 2018, assuming Lough uses the allowance method Requirement 1. Joumalze Lough's transactions during August 2018, assuming Lough uses the direct write-oft method Sales of $60,200 ( $55,000 on account, $5,200 for cash). Ignore Cost of Coods Sold (Record debits first, then credits. Select the explanation on the last line of the joumal entry takle Prepare a single compound joumal entry