Entries for Bad Debt Expense under the Direct Write-Off and Allowance Methods The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: June 8 Wrote off account of Kathy Quantel, $8,440 Aug, 14. Received $3,000 as partial payment on the $12,500 account of Rosalie Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $8,440 from Kathy Quantel, whose account had been written off on June 8, Reinstated the account and recorded the cash receipt. Dec. 31 Wrote off the following accounts as uncollectible (record as one journal entry): Wade Dolan $4,600 Greg Gagne 3,600 Amber Kisko 7,150 Shannon Poole 2,975 Niki Spence 6,630 Dec. 31. If necessary, record the year-end adjusting entry for 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. June 8 Bad Debt Expense Accounts Receivable-Kathy Quantel Aug. 14 Cash Bad Debt Expense III I W10 Accounts Receivable-Rosalie Oakes Oct. 16-reinstate Accounts Receivable-Kathy Quantel Bad Debt Expense Oct. 16-collection Cash Accounts Receivable-Kathy Quantel Dec. 31-write-off Bad Debt Expense Accounts Receivable-Wade Dolan Accounts Receivable-Greg Gagne Accounts Receivable-Amber Kisko Accounts Receivable-Shannon Poole Accounts Receivable-Niki Spence @ Dec 31 adjusting No entry No entry b. Journalise the transactions under the allowance method, assuming that the allowance account had a beginning balance of $36,000 at the beginning of the ynar and the company uses the analysis of receivables method. Rustic Tables Company prepared the following aging schedule for its accounts receivable: Estimated Percent of Uncollectible Accounts 3 Aging Class (Number of Days Past Due) 0-30 days 31-60 days 61.90 days 91-120 days More than 120 days Total receivables Receivables Balance on December 31 $320,000 110,000 24,000 18,000 43,000 $S15,000 10 33 75 June 8 Allowance for Doubtful Accounts Accounts Receivable-Kathy Quantel I DI all Aug. 14 Cash A Aug. 14 Cash Allowance for Doubtful Accounts Accounts Receivable-Rosalie Oakes Oct. 16-reinstate Accounts Receivable-Kathy Quantel Allowance for Doubtful Accounts o Oct. 16-collection Cash Accounts Receivable-Kathy Quantel Dec. 31-write-off Allowance for Doubtful Accounts Accounts Receivable-Wade Dolan Accounts Receivable-Greg Gagne Accounts Receivable-Amber Kisko Accounts Receivable-Shannon Poole Accounts Receivable-Niki Spence Dec. 31-adjusting Bad Debt Expense Allowance for Doubtful Accounts