1. Posner Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2010:

   Customer	Amount
   J. Jackson	$10,000
   L. Stanton	9,500
   C. Barton	13,100
   S. Fenton	2,400
   Total	$35,000

   Required:

   (1)	Journalize the write-offs for 2010 under the direct write-off method.
   (2)	Journalize the write-offs for 2010 under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $2,400,000 of credit sales during 2010. Based on past history and industry average, 1.50% of credit sales are expected to be uncollectible.
   (3)	How much higher or lower would Posner Company