The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31, 2016: Wrote off account of Dean Sheppard, $8, 450. Received $500 as partial payment on the $7, 100 account of Dan Pyle. Wrote off the uncollectible. Received $8, 450 from Dean Sheppard, whose account had been written off on April 13 account and recorded the cash receipt. Wrote off the following accounts as uncollectible (record as one journal entry) Paul Chapman $2, 255 Duane DeRosa 3, 550 Teresa Galloway 4, 770 Ernie Klatt 1, 275 Marty Richey 1, 690 If necessary, record the year-end adjusting entry for uncollectible accounts. Journalize we transactions for 2016 under the direct write-off method. If no entry transaction Refer to the Chart or Accounts for exact wording of account titles. Journalize the transactions for 2016 under the allowance method. Shipway Company method of estimating uncollectible accounts expense. Based on past history and expected to be uncollectible. Shipway Company recorded S3, 778.000 or credit sales simply skip to the next transaction. Refer to the Chart or Accounts for exact wording How much higher (lower) would Shipway Company's net income have seen under the allowance method? The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31, 2016: Wrote off account of Dean Sheppard, $8, 450. Received $500 as partial payment on the $7, 100 account of Dan Pyle. Wrote off the uncollectible. Received $8, 450 from Dean Sheppard, whose account had been written off on April 13 account and recorded the cash receipt. Wrote off the following accounts as uncollectible (record as one journal entry) Paul Chapman $2, 255 Duane DeRosa 3, 550 Teresa Galloway 4, 770 Ernie Klatt 1, 275 Marty Richey 1, 690 If necessary, record the year-end adjusting entry for uncollectible accounts. Journalize we transactions for 2016 under the direct write-off method. If no entry transaction Refer to the Chart or Accounts for exact wording of account titles. Journalize the transactions for 2016 under the allowance method. Shipway Company method of estimating uncollectible accounts expense. Based on past history and expected to be uncollectible. Shipway Company recorded S3, 778.000 or credit sales simply skip to the next transaction. Refer to the Chart or Accounts for exact wording How much higher (lower) would Shipway Company's net income have seen under the allowance method