At January 1, 2024. White Top Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year. White Top Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize White'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 $176,000 ($157,000 on account $19.000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) Date 2024 Jan Accounts and Explanation (b) Collections on account, $120,000. Date 2024 Jan Debit Credit Accounts and Explanation Debit Credit (c.) Write-offs of uncollectible receivables, $2,800 Date 2024 Jan Accounts and Explanation Debit Credit At January 1, 2024, White Top Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts hi a credit balance of $3,000. During the year. White Top Flagpoles recorded the following transactions for Januai (Click the icon to view the transactions.) Read the requirements. Requirement 2. Post White'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. Accounts Receivable Allowance for Bad Debts: Requirement 3. Journalize White's adjustment to record bad debts expense assuming White estimates bad debts as 12% of accounts receivable on January 31, 2024. 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 White's adjustment to record bad debts expense. Date 2024 Jan. 31 Accounts and Explanation Debit Credit Post the adjustment to the appropriate T-accounts. Enter the unadjusted balances computed in requirment 2 and the the beginning balance for the Bad Debt Expense account. Then post the adjustment and compute the January 31 adjusted balance of each account. (Enter a "0" on the normal side of the account for any zero balances.) Accounts Receivable Allowance for Bad Debts At January 1, 2024, White Top Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, White Top Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Debit Credit Date Accounts and Explanation 2024 Jan. 31 Post the adjustment to the appropriate T-accounts. Enter the unadjusted balances computed in requirment 2 and the the beginning balance for the Bad Debt Expense account. Then post the adjustment and compute the January 31 adjusted balance of each account. (Enter a "0" on the normal side of the account for any zero balances.) Accounts Receivable Allowance for Bad Debts Bad Debts Expense 12 Requirement 4. Show how White Top Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. Balance Sheet (Partial): Current Assets Requirements I 1. Journalize White's transactions that occurred during January. The company uses the allowance method. 2. Post White's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. 4. Journalize White's adjustment to record bad debts expense assuming White estimates bad debts as 12% of accounts receivable on January 31, 2024. Post the adjustment to the appropriate T-accounts. Show how White Top Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. Print Done nt