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4. ENTRIES FOR BAD DEBT EXPENSE USING DIRECT-WRITE OFF METHOD (10 points) Eggsy Inc uses the direct write-off method. Prepare the journal entries for the following transactions. Date Jan 4 Feb. 4 Mar 4 Transaction Wrote off account of Pastel Paints in the amount of $2,000. Sale in the amount of $3,000 to Daffodil Baskets on account. (Ignore Cost of Goods Sold part of the transaction. Record the Sale part only) Received $500 as partial payment on an account receivable for Daffodil Baskets. There is a $2.500 remaining balance which is written off. Received the $2,500 from Daffodil Baskets whose account had been written off on Mar 4. Reinstated the account and recorded the cash receipt. Wrote off the following account as uncollectible: Apr 4 May 4 Candy Corp $1,000