At January $1,2024,$ Mount Pleasant Flagpoles had Accounts Receivable of $$34,000$ and Allowance for Bad Debts had a credit balance of $$4,000.$

Record the following transactions assuming the allowance method is used:

$1.$ Sales of $$172,000($$$157,000$ on account, $$15,000$ cash$)$

$2.$ Collections on account of $$126,000$

$3.$ Write offs of uncollectible receivables of $$2,700$

Bonus questions:

$4.($Up to $5$ points$)-$ Assuming a $10\%$ estimate of uncollectiblity and the Percentage of Sales method, how much should the ending balance of the Allowance for bad debts be$?($Remember the beginning balance and adjustments$)$

$5.($Up to $7$ points$)-$ If the starting balance had been $$3,000$ debit in the Allowance and management instead used the Aging of Accounts method and determined the ending balance should be $$20,000,$ what entry would need to be made?