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Entries for that Debt Expense Under the Direct Write off and Allowation Method The following selected transactions were taken from the records of Ruthie Tolles Company for the year ending December 3 June 8, Wrote of account of Kathy Quantel, 59A60 Aug 14. Received 56,720 partial payment on the 516,930 account of Ronale Oakes. Wrote off the remaining balance uncollectible od 10. Received the 39,400 from Kathy Quinte, which had been written off on June 8. Restated the account corded the cash recret Dec. 31. Wrote off the following accounts as uncollectible record as one omal entry) Wade Dola Greg Gagne Amber Kisko Shannon Poole $2.740 1,700 6,530 3.780 1.040 Check My Work DOOR Show Me How 31-60 days 61-90 days 91-120 days More than 120 days Total receivables 170,000 54,000 20,000 20 55 27,000 00 $725,000 For those amount boxes in which no entry was required, leave the box blank of an account is not required, sekea "No entry from the dropdown box(es) . Journalve the transactions under the direct write-off method June 3 Aug. 14 ) I l01 DI I HII I Oct. 16 reinstate Oct. 16-collection Precious Nat) Check My Work ebook Show Me How Dec. 31.write off Dec 31-adjusting Ibu Ibilbil b. Journal the transactions under the allowance method, assuming that the allowance account had burning balance of 52,10 a beginning of the year and the con uses the analysis of receivables method billi I i Ini I June Aug. 14 Oct. 16 reinstate Previous Net Oct. 16- Oct. 16 collection DII WIII I lililI I OD Dec, wie Dec 31 din LO How much the lower) would stilles et come have been under the write of method and then het > Check My Work

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