810

More info a. Sales of $177,000 ( $162,000 on account; $15,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $128,000. c. Write-offs of uncollectible receivables, $2,800. Requirements 1. Journalize Eagle's transactions that occurred during January. The company uses the allowance method. 2. Post Eagle's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Eagle's adjustment to record bad debts expense assuming Eagle estimates bad debts as 4% of credit sales on January 31,2024 Post the adjustment to the appropriate T-accounts. 4. Show how Eagle Mountain Flagpoles will report net accounts receivable on its January 31,2024 , balance sheet. At January 1, 2024, Eagle Mountain Flagpoles had Accounts Receivable of $26,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Eagle Mountain Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Enter the beginning balances and the journal entries, and then compute the unadjusted balance of each account