Journalize the transactions for High Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold. What are some limitations that High Performance will encounter when using the direct write-off method? At January 1, 2016, Hilly Mountain Flagpoles had Accounts Receivable of $31,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Hilly Mountain Flagpoles recorded the following: Sales of $174,000 ($157,000 on account; $17,000 for cash). Ignore Cost of Goods Sold. Collections on account, $131,000. Write-offs of uncollectible receivables, $2, 200. Journalize Hillis transactions that occurred during 2016. The company uses allowance method