Alpha Waiches completed the following selected transactions during 2024 and 2025F (1) (Click the icon to vient the transactions) Read the Requirement 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the acoounts begin with a tero balance. Aecord the travsacions in the Closing onty, Wio = Write-dit) Begin by recoeding the 2024 transactions in the general joumal Dec. 31: Estimated that bad debts expense foe the year was 18 of credi sales of $60,000 and tecorded that amount as expense. The comeany uses the aliowance inethed. Dec 31: Mude the closing enty lor bas deta eupense Now record the 2025 transwctions in the general pumal. Jan. 17: Sold inventory to Michael Smith, $600, on account. Ignore Cost of Goods Sold. Jun. 29: Wrote off Michael Smith's account as uncollectible after repeated efforts to collect from r Aug. 6: Received S600 from Michael Smith, along with a letter apologizing for being so late. Reinstated Smith's account in full and rocorded the cash receipt. Start by recording the entry to reinstate Smith's acoount. Now record the $600 roceived from Michael Smith. Dec. 31: Made the closing entry for bad debts expense Now post the transactions to the two T-accounts, (Enter "o" on the normal side of the account for any zero balances.) Review the joumal cntriot. More info Requirements 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (omit explanations), and post to the two T-accounts. 2. Assume the December 31,2025 , balance of Accounts Receivable is $138,000. Show how net accounts receivable would be reported on the balance sheet at that date. Alpha Waiches completed the following selected transactions during 2024 and 2025F (1) (Click the icon to vient the transactions) Read the Requirement 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the acoounts begin with a tero balance. Aecord the travsacions in the Closing onty, Wio = Write-dit) Begin by recoeding the 2024 transactions in the general joumal Dec. 31: Estimated that bad debts expense foe the year was 18 of credi sales of $60,000 and tecorded that amount as expense. The comeany uses the aliowance inethed. Dec 31: Mude the closing enty lor bas deta eupense Now record the 2025 transwctions in the general pumal. Jan. 17: Sold inventory to Michael Smith, $600, on account. Ignore Cost of Goods Sold. Jun. 29: Wrote off Michael Smith's account as uncollectible after repeated efforts to collect from r Aug. 6: Received S600 from Michael Smith, along with a letter apologizing for being so late. Reinstated Smith's account in full and rocorded the cash receipt. Start by recording the entry to reinstate Smith's acoount. Now record the $600 roceived from Michael Smith. Dec. 31: Made the closing entry for bad debts expense Now post the transactions to the two T-accounts, (Enter "o" on the normal side of the account for any zero balances.) Review the joumal cntriot. More info Requirements 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (omit explanations), and post to the two T-accounts. 2. Assume the December 31,2025 , balance of Accounts Receivable is $138,000. Show how net accounts receivable would be reported on the balance sheet at that date