100, and Allowance for Bad Debts had a credit balance of $3,000. During the y company uses the allowance method. (Record debits first, then credits. Select th Soods Sold. (Prepare a single compound journal entry.) * More Info a. Sales of $180,000 ($156,000 on account; $24,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $133,000. c. Write-offs of uncollectible receivables, $2,500. Print Print Done Done en click Check Answer. Clear All ble of $30,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windin 2018. The company uses the allowance method. (Record debits first, then credits. Select the explan Costo * Requirements Debit 1. Journalize Winding's transactions that occurred during 2018. The company uses the allowance method. 2. Post Winding's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Winding's adjustment to record bad debts expense assuming Winding estimates bad debts as 2% of credit sales. Post the gdjustment to the appropriate T-accounts. 4. Show how Winding Mountain Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. Print Done then click Check Answer. Clear All January 1, 2018, Winding Mountain Flagpoles had Accounts Receivable of $30.000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Winding Mountain Flagpoles recorded the following Click the icon to view the transactions) Read the times Requirement 1. JournalizeWinding's transactions that occurred during 2018. The company uses the alowance method. (Record dens inst, then credits Select the explanation on the lastne of the journal entry table) (a) Sales of $180,000 ($156,000 on account: $24,000 for cash). Ignore Cost of Goods Sold. Prepare a single compound journal entry) Accounts and Explanation Debit Credit Choose from any list or for any number in the input fields and then click Check Answer Check Answer Clear AB