At January 1, 2024, Windy Mountain Flagpoles had Accounts Receivable of $33,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Windy Mountain Flagpoles recorded the following transactions for January: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Windy'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 $177,000 ($159,000 on account; $18,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit 2024 Jan. (b.) Collections on account, $129,000. Date Accounts and Explanation Debit Credit 2024 Jan. (c.) Write-offs of uncollectible receivables, $2,600. Date Accounts and Explanation Debit Credit 2024 Jan. Time Remaining: 00:24:24 Submit quiz Nextccurred 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.) Requirements More info Journalize Windy's transactions that occurred during January. The company uses the allowance method. Post Windy's transactions to the Accounts Receivable and Allowance _ Sales of $1773000 \"1593000 on account; 5153000 for cash). for Bad Debts Taccounts. Ignore Cost of Goods Sold. Journalize Windy's adjustment to record bad debts expense assuming . Collections on account, $1293000_ Windy estimates bad debts as 14% of accounts receivable on January . . . 31, 2024. Post the adjustment to the appropriate T-accounts. ' Write-offs 0f unccllectlble receivables, $2'600' Show how Windy Mountain Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. (c.) Write-offs of uncollectible receivables, $2,600. Date Accounts and Explanation Debit Credit 2024 Jan. Requirement 2. Post Windy'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 Windy's adjustment to record bad debts expense assuming Windy estimates bad debts as 14% 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 Windy's adjustment to record bad debts expense. Date Accounts and Explanation Debit Credit 2024 Jan. 31Post the adjustment tn the a p pmpriate Taccou me. 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 0! each account. (Enter a "0" on the normal side of the account for any zero balances) Accounts Receivable Allowance tor Bad Debts Bad Debts Expense Requirement 4. Show how Windy Mountain Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet. Balance Street (Partial): Current Assets