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Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Method The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31 : June 8. Wrote off account of Kathy Quantel, $8,430. Aug. 14. Received $5,990 as partial payment on the $15,090 account of Rosalie Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $8,430 from Kathy Quantel, whose account had been written off on June 8 . Reinstated the account and recorded the cash receipt. Dec, 31. Wrote off the following accounts as uncollectible (record as one joumal entry): Dec. 31. If necessary, record the year-end adjusting entry for uncollectible accounts. If no entry is required, select "No entry" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Journalize the transactions under the direct write-off method. Ju Check My Work Remember that under the direct write-off method, Bad Debt Expense is not recorded until the b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning balance of $25,290 at the beginning of the year and the company uses the analysis of receivables method. Rustic Tables Company prepared the following aging schedule for its accounts receivable: Check My Work Remember that under the direct write-off method, Bad Debt Expense is not recorded until the customer's account is determined to be wo Under the allowance method once a customer account is identified as uncoliectible, it is written off against the allowance account. c. How much higher (lower) would Rustic Tables' net income have been under the direct write-off method than under the allowance method? by