1. Journalize Mountaintop's transactions that occurred during January. The company uses the allowance method. 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Mountaintop's adjustment to record bad debts expense assuming Mountaintop estimates bad debts as 4% of credit sales on January 31, 2024. Post the adjustment to the appropriate T-accounts. Show how Mountaintop Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. 4.