At January 1, 2024, Purple Mountain Flagpoles had Accounts Receivable of $29,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during January. 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 $187,000 ($165,000 on account: $22,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) More Info Date Accounts and Explanation Debit Credit A Requirements X 2024 Jan. a. Sales of $187,000 ($165,000 on account: $22,000 for cash). Ignore Cost of Goods Sold. 1. Journalize Purple's transactions that occurred during January. The b. Collections on account, $126,000. company uses the allowance method. c. Write-offs of uncollectible receivables, $2,000. 2. Post Purple's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Purple's adjustment to record bad debts expense assuming Print Done Purple estimates bad debts as 14% of accounts receivable on January 31, 2024. Post the adjustment to the appropriate T-accounts. Show how Purple Mountain Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. 4. Print Done