a. Sales revenue on account, $284,700 (ignore Cost of Goods Sold). b. Collections on account, $224,000. c. Write-offs of uncollectibles, $6,000. d. Bad debts expense of $5,800 was recorded. The Accounts Receivable balance and Allowance for Bad Debts for Precious Gems Collection at December 31, 2015, was $10,800 and $2,000 (credit balance). During 2016, Precious Gems completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Precious Gems's transactions for 2016 assuming Precious Gems uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Sales revenue on account, $284,700 (ignore Cost of Goods Sold). Requirements Accounts and Explanation Debit Credit a. 1. Journalize Precious Gems's transactions for 2016 assuming Precious Gems uses the allowance method. 2. Post the transactions to the Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense T-accounts, and determine the ending balance of each account. 3. Show how accounts receivable would be reported on the balance sheet at December 31, 2016. Print Done