Prior to recording the following, Elite Electronies, Inc., tad a credit balance of $4,000 in its Allowance for Doubtful Accounts. a on August 31, a customer balance for $500 from a prior year was determined to be uncollectible and was written oft b. On December 15, the customer balance for $500 written off on August 31 was collected in full Required: For each transaction listed above, indicate the amount and direction for increase. - for decrease) of effects on the financial statement accounts and on the overall accounting equation. Hint: On December 15th, first reinstate the Accounts receivable and then record the collection of cash (Enter any decreases to Assets, Liabilitles, or Stockholders Equity with a minus sign) Assets Liabilities Stockholders' Equity (2)