Hello, thanks for the question! Yes, for a song like Folsom Prison, you can absolutely play the electric parts on acoustic, but because the acoustic is a little more difficult to play, you might find some things be a bit tougher to execute.
Keep working at it at a slower tempo and it should start to feel easier to make some of the trickier chord changes - the B7 is always a tough one to get down! Absolutely slow down all the videos to figure out exactly what's going on - and when you're ready - try a playalong with the performance or jam along video -- remember you can slow down those videos as well!
Let me know how it goes!
Mike
Keep rockin!
Mike Olekshy
GT Guitar Coach