Allowance Method versus Direct Write-Off Method On March 10, May, Inc, declared a $2,500 account receivable from Anders Company as uncollectible and wrote off the account. On November 18 , May received a $800 payment on the account from Anders. a. Assume that May uses the allowance method of handling credit losses. Prepare the journal entries to record the write-off and the subsequent recovery of Anders's account. b. Assume that May uses the direct write-off method of handling credit losses. Prepare the journal entries to record the write-off and the subsequent recovery of Anders's account. c. Assume that the payment from Anders arrives on the following February 5 , rather than on November 18 of the current year. (1) Prepare the joumal entries to record the write-off and subsequent recovery of Anders's account under the allowance method. (2) Prepare the journal entries to record the write-off and subsequent recovery of Anders's account under the direct write-off method. a. b. c.Part 2 C. Assume that the goyment fopen Andern armes on the following Febyuary S. rathershan on TB of the currerifyear, (1) Prepace the cumal entries to eccecd the woche-ct and sudisecue and subsequent recovery of Anderst account under the drect wrice-off method. a. chart 1