Acme Cell Phones had a debit balance in Accounts Receivable of $100,000 on January 1, 2020. On that date, Acme sold $80,000 of merchandise to Brodie Trucking Company on account Ignore cost of goods sold on January 20 Brodie paid only 556,000 of the account receivable. After repeated attempts to collect, Acme finally wrote off its accounts receivable from Brodie on May 31. On December 1. Acme received Brode's cheque for 521.000 with a note apologizing for the late payment Required a. January 1, sale on account $80.000 ignore cost of goods sold) (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Jan 1 b. Journalize the January 28 collection of $56.000 on account Journal Entry Date Accounts Debit Credit 28 Choose from any list of enter any number in the input fields and then continue to the next question Acme Cell Phones had a debit balance in Accounts Receivable of $100,000 on January 1, 2020. On that date, Acme sold 580 Brodie paid only $56,000 of the account receivable. After repeated attempts to collect, Acme finally wrote off its accounts recei apologizing for the late payment. Required c. May 31, write-off the remaining portion of Brodie's accounts receivable. Acme uses the allowance method for uncollectibles Journal Entry Date Accounts Debit Credit May 31 d. Journalize the December 1 reinstatement of Brodie's accounts receivable Journal Entry Accounts Date Debit Credit Dec Choose from any list or enter any number in the input fields and then continue to the next question Type here to search Acme Cell Phones had a debit balance in Accounts Receivable of $100,000 on January 1, 2020. On that date, Acme sold $80,000 of mer Brodie paid only $56,000 of the account receivable. After repeated attempts to collect, Acme finally wrote off its accounts receivable from apologizing for the late payment. Required e. Journalize the December 1 collection in full from Brodie, $24,000 Journal Entry Date Accounts Debit Credit Dec. 1 Requirement 2. Record the May 31 and December 1 journal entries as if Acme Cell Phones were using the direct write-off method. c. May 31, write off the remaining portion of Brodie's accounts receivable, using the direct write-off method. Journal Entry Date Accounts Debit Credit May 31 Choose from any list or enter any number in the input fields and then continue to the next question Type here to search This Question: 1 pl 6 of 16 (0 complete) Acme Cell Phones had a debit balance in Accounts Receivable of $100,000 on January 1, 2020. On that date, Acme sold $80,000 Brodie paid only $56,000 of the account receivable. After repeated attempts to collect, Acme finally wrote off its accounts receivabl apologizing for the late payment Required d. Journalize the December 1 reinstatement of Brodie's accounts receivable. Journal Entry Date Accounts Debit Credit Dec 1 e. Journalize the December 1 collection in full from Brodie, $24,000, Journal Entry Date Accounts Debit Credit Dec 1 Choose from any list or enter any number in the input fields and then continue to the next question --- Type here to search MUA UUR Balance in Accounts Receivable of $100,000 on January 1, 2020. On that date, Acme sold $80,000 of merchandise to Brodie Trucking Company on account. Ignore cost of goods sold OF Brodie paid only 556,000 of the account receivable. After repeated attempts to collect Acme finally wrote off its accounts receivable from Brodie on May 31. On December 1. Acne received Brodie's cheque fer $24,000 apologizing for the late payment Required Dec Requirement 3. What amount of net Accounts Receivable would Acme Cell Phones report on its December 31, 2020, balance sheet under the direct write-off method? Does Acme expect to called this much of the rece Give your reasons (if a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero.) Balance Sheet (Partial): Accounts receivable, net Does Acme expect to collect this much of the receivable? Give your reasons By using the direct write-off method. Acme is presenting the Accounts Receivable balance as V collectible. This 7 be a valid policy to use if there are delinquent accounts Choose from any list or enter any number in the input fields and then continue to the next