Entries for Sad Debt Expense Under the Direct Write-off and Allowance Method The following selected transactions were taken from the records of Rustic Tables Company for the year ending December 31: Jones. wrote of account of Kathy Quantel, 57,310. Aug 14. Received $5,190 as partial payment on the $13,080 account of Rosalle Oakes. Wrote off the remaining balance as uncollectible. Oct. 16. Received the $7,310 from Kathy Quantel, which had been written off on June 8. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote of the following accounts as uncollectible (record as one journal entry): Wade Dolan Greg Gagne Amber Shannon Poole Spence $2,120 1,320 5,040 2.920 800 Estimated Percent of Uncollectible Accounts Dec 31 necessary, record the year-end adjusting entry for the uncollectible accounts. The company prepared the following aging schedule for its accounts receivable: Aging Class (Number Receivables Balance of Days Past Due) on December 31 0-30 days $351,000 31-60 days 132,000 61-90 days 42,000 91-120 days 15,000 More than 120 days 21,000 Total receivables $561,000 7 30 45 90 For those amount boxes in which no entry is required, leave the box blank. If an account is not required, select "No entry from the dropdown box(es). Journane the transactions under the direct write-off method Print Item For those amount boxes in which no entry is required, leave the box blank. If an account is not required, select "No entry from the dropdown box(es). Calculator a. Journalize the transactions under the direct write-off method. June 8 Aug. 14 Oct. 16-reinstate 1 Oct. 16-collection In 1 IDI I Dec. 31-write-off Dec. 31-adjusting b. Journalize the transactions under the allowance method, assuming that the allowance account had a beginning balance of $21,930 at the beginning of the year and the company uses the analysis of receivables method. June Aug. 14 Oct. 16-reinstate Oct. 16-collection m. IIIII Im In Dec. 31-write-off Dec 31 adjusting C. How much higher (lower) would Rustic Tables' net income have been under the direct write-off method than under the allowance method? by