At January 1, 2024, Hilltop Flagpoles had Accounts Receivable of $28.000, and Allowance for Bad Debts had a credit balance of $3,000. During the year. Hilltoo Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Requirements Read the requirements Allowance for Bad Debts 4,770 Recorded bad debis expense for the period. Post the adjustment to the appropriate T-accounts. First enter the beginning balance for the Bad Debt Expense account, then post the adjustment to the appropriate T-accounts. (Enter a "' on the nom 1. Joumalize Hilltop's transactions that occurred during January. The company uses the allowance method. 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Joumalize Hilltop's adjustment to record bad debts expense assuming Hilltop estimates bad debts as 10% of accounts receivable on January 31, 2024. Post the adjustment to the appropriate T-accounts. 4. Show how Hilltop Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. Accounts Receivable Allowance for Bad Debts Write-offs 2,300 3,000 Jan 1, 2024 Bal. Jan 1, 2024 Bal. Net credit sales Unadj. Bal. 28,000 135,000 Collections 164,000 2,300 Write-offs 54,700 Print Done 700 Unadj. Bal. 4.770 Adj. More Info Jan. 31, 2024 Bal. 5,470 Jan. 31, 2024 Bal. Bad Debts Expense Jan. 1. 2024 Bal. Adj. 0 4,770 a. Sales of $185,000 ($164,000 on account; $21,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $135,000 c. Write-offs of uncollectible receivables, $2,300. Jan. 31, 2024 Bal. 4.770 Print Done Choose from any list or enter any number in the input fields and then click Check