Al January 1, 2024 Purple Mountain Flageoles had Accounts Receivable of $20.000, and lowance for Bad Oebts tad a credit balance of $4.000. During the year. Purple Mountain Flagpoles recorded the following tractions for January Cheloon to the transions) Read the rarements 2505 31 DaDs Expert Award Date 11 cortador expense for the period Paslauiento e appropriate accounts First the beginning tance for the Bad Dependent, the potent to the country on the roma of the account for any Accounts Receivable Allowance for ladet 1.2024 20.000 151.000 Color with 2.100 4,000 1300 Net 2.100 Wote Una 2.000 1.000 na M 3204 6440 800 Bad Debts Expanse 20000 Jan 1.2004 Jan 2014 2,500 Choose from any store for any number in the outfields and then click Check out At January 1, 2024 Purple Mountan Flagpoleshed Accounts Receivable et $25,000, and Alowance for Bed Dublu had crede balance of 54,000. During the year. Purple Mountain Pagpoles recorded the following transactions for January (Cick the icon to view the transactions) Read the more Wroto off uncolle accounts Requirement 2. Post Purple's train the Accounts Receivable and Allowance for Bad Oetts T-accounts Enter the beginning balances and the journal arts and the compute the adjusted balance of each account Accounts Receivable Allowance for Bad Debte Jan 1.2004 26.000 131,000 Collections Not crot sales 158.000 2.100' witool 2.100 4.000 1.2004 Una Del 40.000 1,900 und Requirement 3. Juma Purple's adjustment to record bad debit expense auming Purple estimates bad dates % of accounts receivable on January 31, 2024 Post the adjustment to the appropriate account. Record debts first the credit Seinaplanation on the last line of the journal entry table> First ournalire Purpisadustment to record bad debis expense Da Accounts and explanation Debit Credit 2024 Jan 31 od Doble pene 2.0 A for ladet 2011 Recorded bude ise for the period Choose from any list or enter any number in the input de and then click Chick Answer Al January 1 2024. Purple Mountain Pageshad Accounts Receivable of 28,000, and Allowance for Bad Debts had credite of 84.000 During the year. Purple Mountain Flagpoles recorded the following actions for January Clieke con to view the train Read the c) Collections on account $131.000 Accounts and Explanation Debit Credit 2004 an Cath 151.000 Account Recht 131,000 Ceath on account te) Wie of not receive 2.100 Date Accounts and explanation 20 Awance for Dad Dube Great 2.100 2.100 With off uncon Requirement 2. Post Purple's reaction to the Account Receive and lowance for accounts En the beginning balance and the male and then come the wasted tince each account Choose from any list or enter my number in the input fields and then click Check Answe At January 1, 2024. Purple Mountain Flugou had Accounts Receivable of $20,000, and Alowance for Bad Dates had a credit balance of 54,000. During the year. Purple Mountan Fugoobs recorded the following transaction for January Co the con la view the transactions Read the courements Requirement 1. Jouretza Purple's transactions that occurred during Janowy. The company when the allowance method fecond debius fent, then redu. Select the explanation on the boat ice of the banal entry to (a) Sales of $172.000 (5156.000 on account $16,000 for cash). Ignore Cost of Goods Sold Prepare a single compound joumanity Date Accounts and explanation Debit Credit 2034 Jan Accounts Receivable 156.000 Ses Revenue 172.000 16.000 Recorded as the you Collections on account $131.000. Date Accounts and explanation 2024 Cash Account Receivable Deb Credit 191.000 131,000 Cocahon count CV Write-ots of not receivables. 52.100 Crocodrom any former wy number in the input fields and then click Check Answer the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry tab re a single compound journal entry.) - X More Info a. Sales of $172,000 ($156,000 on account: $16,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $131,000. c. Write-offs of uncollectible receivables, $2,100. Print Done nce method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) e compound journal entry.) - X Requirements 1. Journalize Purple's transactions that occurred during January. The company uses the allowance method. 2. Post Purple's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Purple's adjustment to record bad debts expense assuming Purple estimates bad debts as 9% of accounts receivable on January 31, 2024. Post the adjustment to the appropriate T-accounts. 4. Show how Purple Mountain Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. Print Done