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, Hilltop Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) .) & More Info Read the requirements. Wrote off uncollectible accounts. Requirement 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. Enter the beginning balances and the joumal entries, and then compute the unadjusted balance of each account a. Sales of $185,000 (S164,000 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. Write-offs Allowance for Bad Debts 2,300 3,000 Jan 1, 2024 Bal. Jan 1, 2024 Bal Net credit sales Unadj. Bal. Accounts Receivable 28,000 135,000 Collections 164,000 2,300 Write-offs - 54,700 Print Done 700 Unadj. Bal. Requirement 3. Joumalize Hilltop's adjustment to record bad debts expense assuming Hilltop estimates bad debts as 3% of credit sales on January 31, 2024. Post the adjustment to the appropriate T-accounts First journalize Hilltop's adjustment to record bad debts expense. (Record debits first, then credits. Select the explanation on the last line of the journ i Requirements Date Accounts and Explanation Debit Credit 2024 Jan. 31 Bad Debts Expense 1. Journalize Hilltop's transactions that occurred during January. The Allowance for Bad Debts 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 3% of credit sales on January 31, 2024. Recorded bad debis expense for the period. Post the adjustment to the appropriate T-accounts. 4. Show how Hilltop Flagpoles will report net accounts receivable on its Choose from any list or enter any number in the input fields and then click Check Answer January 31, 2024, balance sheet