At January 1, 2018, Hilly Mountain Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Hilly Mountain Flagpoles recorded the following: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Hilly's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($163,000 on account: $19,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Requirements 2018 1. Joumalize Hilly's transactions that occurred during 2018. The company uses the allowance method. 2. Post Hilly's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Joumalize Hilly's adjustment to record bad debts expense assuming Hilly estimates bad debts as 1% of credit sales. Post the adjustment to the appropriate T-accounts. 4. Show how Hilly Mountain Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. i More Info Print Done a. Sales of $182,000 ($163,000 on account: $19,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $124,000. c. Write-offs of uncollectible receivables, $2,600. Print Done Check Answer. parts O remaining Clear All Check