The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 313 Apr 13. Wrote off account of Dean Sheppard, $3,110 May 15. Received $1,560 as partial payment on the $4,140 account of Dan Pyle. Wrote off the remaining balance as uncollectible July 27. Received $3,110 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry): Paul Chapman $2,080 Duane DeRosa 1,560 Teresa Galloway 930 Ernie Klatt 1,310 Marty Richey 470 31. If necessary, record the year-end adjusting entry for the 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. Apr. 13 Bad Debt Expense Accounts Receivable-Dean Sheppard 3.110 3.110 1,560 May 15 Cash Bad Debt Expense Accounts Receivable-Dan Pyle Duly 27 Accounts Receivable-Dean Sheppard Bad Debt Expense I WII 11 3. MC.08.83 July 27 Accounts Receivable-Dean Sheppard Bad Debt Even 9. MC.08.86 MC.08.92 ...... MC.00.101 MC.08.102 July 2 Cash Accounts Receivable Dean Sheppard Dec 31 Bad Debt Expense Accounts Receivable Paul Chapman Accounts Receivable-Duane DeRosa Accounts Receivable Teresa Galloway Accounts Receivable-Ernie Kitt Accounts Receivable-Marty Richey MC.00.103 MC.08.103. ALGO MC.08. 104 C.08. 104. ALGO Dec 01 No entry Ne entry C.08.108 C.08.109 b. Journaise the transactions under the allowance method Shiway Company uses the percent of credit sal method of eating uncollectible sccounts per Based on a story and industry average of credit sales expected to be collection Shiway Company recorded 1506,000 of credit sales during the 2.00.109. ALGO Apr 13 0.08.112 May 15 .08.112 ALGO 00.113.ALGO 10.13. ALGO July 27 4.06 30 33/34 items b. Journalide the transactions under the allowance method. Shipway Company uses the percent of credit ses method of estimating uncollectible accounts rense Based on past history and industry averages, of credit ses are expected to be uncollectible Shiway Company recorded 1500,000 of credit sales during the year. Apr 13 May 15 July 27