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this part has 6 parts please provide the answers for all 6 parts On June 1, 2024, Peak Performance Cell Phones sold $25,000 of merchandise

this part has 6 parts please provide the answers for all 6 parts image text in transcribed

On June 1, 2024, Peak Performance Cell Phones sold $25,000 of merchandise to Ackerman Trucking Company on account. Ackerman fell on hard times and on July 15 paid only $6,500 of the account receivable. After repeated attempts to collect, Peak Performance finally wrote off its accounts receivable from Ackerman on September 5. Six months later, March 5, 2025, Peak Performance received Ackerman's check for $18,500 with a note apologizing for the late payment. Read the requirements. Requirement 1. Journalize the transactions for Peak 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: Peak Performance Cell Phones sold $25,000 of merchandise to Ackerman Trucking Company on account. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit Jun. 1 - X Requirements 1. Journalize the transactions for Peak Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold. 2. What are some limitations that Peak Performance will encounter when using direct write-off method? Print Done

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