Save Homework: Chapter 8 homework Score: 0 of 10 pts 1 of 6 (1 complete) E8-17 (similar to) HW Score: 0%, 0 of 100 pts Question Help On June 1, 2018, Perfect Performance Cell Phones sold $19.000 of merchandise to Adam Trucking Company on account. Adam fell on hard times and on July 15 paid only $4,000 of the account receivable. After repeated attempts to collect, Perfect Performance finally wrote off its accounts receivable from Adam on September 5. Six months later, March 5, 2019, Perfect Performance received Adam's check for $15,000 with a note apologizing for the late payment. Read the requirements Requirement 1. Journalize the transactions for Perfect Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold. (Record debits first then, credits. Select the explanation on the last line of the journal entry table.) June 1: Perfect Performance Cell Phones sold $19,000 of merchandise to Adam Trucking Company on account. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit Jun 1 Choose from any list or enter any number in the input fields and then click Check Answer 5 Darts remaining Clear All Check Answer 1 of 6 (1 complete) Cell Phones sold $19,000 of merchandise to Adam Trucking Company on account. Adam fello After repeated attempts to collect, Perfect Performance finally wrote off its accounts receivable f erformance received Adam's check for $15,000 with a note apologizing for the late payment. ctions for Perfect Performance Cell Phones using the direct write-off method. Ignore Cost of Goo n the last line of the journal entry table.) * Requirements - X Goods 1. Journalize the transactions for Perfect Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold. 2. What are some limitations that Perfect Performance will encounter when using the direct write-off method? Print Done y number in the input fields and then click Check Answer. Clear All