At January $1,2024,$ Eagle Mountain Flagpoles had Accounts Receivable of $$26,000,$ and Allowance for Bad Debts had a credit balance of $$3,000.$ During the year, Eagle Mountain Flagpoles recorded the following transactions for January:

$($Click the icon to view the transactions.$)$

Read the requirements.

Requirement $1.$ Journalize Eagle's transactions that occurred during January. The company uses the allowance method. $($Record debits first, then credits. Select the explanation on the last line the journal entry table.$)$

$($a$.)$ Sales of $$189,000($ $$165,000$ on account; $$24,000$ for cash$).$ Ignore Cost of Goods Sold. $($Prepare a single compound journal entry.$)$

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Requirements

Journalize Eagle's transactions that occurred during January. The company uses the allowance method.

Post Eagle's transactions to the Accounts Receivable and Allowance for Bad Debts T$-$accounts.

Journalize Eagle's adjustment to record bad debts expense assuming Eagle estimates bad debts as $2\%$ of credit sales on January $31,2024.$ Post the adjustment to the appropriate T$-$accounts.

Show how Eagle Mountain Flagpoles will report net accounts receivable on its January $31,2024,$ balance sheet.