At January 1. 2016. White Top Flagpoles had Accounts Receivable of $32,000 and Allowance for Bad Debts had a credit balance of $4,000. During the year. White Top Flagpoles recorded the following: Read the requirements. Journalize White's transactions that occurred during 2016. the company uses the allowance method (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Sales of $190,000 ($165,000 on account: $25,000 for cash) Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Journalize White's transactions that occurred during 2016 the company uses the allowance method. Post White's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. Journalize White's adjustment to record bad debts expense assuming White estimates bad debts as 6% of accounts receivable Post the adjustment to the appropriate T-accounts. Show how White Top Flagpoles will report net accounts receivable on its December 31. 2016 balance sheet. Sales of $190,000 ($165,000 on account: $25 000 for cash). Ignore Cost of Goods Sold. Collections on account. $132,000. Write-offs of uncollectible receivables. $2, 300