Texas Roundup uses the direct write-off method in accounting for uncollectible accounts. 
Required:
Record the above transactions in general journal form.
Definitions:
Industry Sales
The total revenue generated from all goods and services sold within a specific industry over a certain period.
Leading Firms
Companies that dominate an industry or market, often characterized by significant market share or innovation.
Concentration Ratios
Measures indicating the market share of the largest firms within an industry, used to assess the degree of market concentration and competition.
Shortcomings
Deficiencies or weaknesses in a plan, system, or personal characteristic that prevent achieving optimal performance or results.
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