At January 1, 2018 Mountaintop Flagpoles had Accounts Receivable of $29.000, and Allowance for Bad Debts had a credit balance of $4,000. During the year Mountaintop Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Mountaintop'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 $179,000 ($163.000 on account: 516,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Debit Credit Accounts and Explanation NAN 2018 Credit (b.) Collections on account, $124.000. Date Accounts and Explanation 2018 Choose from any list or enter any number in the input fields and then continue to the next question The Limit: 02:00:00 Submit Test This Question: 15 pts 24 of 25 (16 complete) This Test: 140 pts possibl E Question Help Al January 1, 2018, Mountaintop Flagpoles had Accounts Receivable of $29.000, and Allowance for Bad Debts had a credit balance of $4.000 During the year Mountaintop Flagpoles recorded the following: (Click the icon to view the transactions) Read the requirements (c) Write-offs of uncollectible receivables. $2,500 Debit Accounts and Explanation Date Credit 2018 11 LE | | 11- INT 1 Requirement 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. Enter the beginning balances and the journal entries, and then compute the unadjusted balance of each account Choose from any list or enter any number in the input fields and then continue to the next question in F Time Limit: 02:00:00 Submit Te This Question: 15 pts 24 of 25 (16 complete) This Test: 140 pts poss Question Help At January 1, 2018 Mountaintop Flagpoles had Accounts Receivable of $29.000, and Allowance for Bad Debts had a credit balance of $4.000. During the year, Mountaintop Flagpoles recorded the following (Click the icon to view the transactions.) Read the requirements Accounts Receivable Allowance for Bad Debts Requirement 3. Journalize Mountaintop's adjustment to record bad debts expense assuming Mountaintop estimates bad debts as 12% of accounts receivable. Post the adjustment to the appropriate T-accounts. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First journalize Mountaintop's adjustment to record bad debts expense. Date Accounts and Explanation Debit Credit 2018 Dec 31 Post the adjustment to the appropriate T-accounts Choose from any list or enter any number in the input fields and then continue to the next question. This Question: 15 pts