Beta Watches completed the following selected transactions during 2016 and 2017: Requirements The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you. Record the transactions in the general journal. Post to the two T-accounts and keep owning balances, assuming all accounts begin with a zero balance. Assume the December 31, 2017, balance of Accounts Receivable is $139,000. Show how not accounts receivable would be reported on the balance sheet at that date. Estimated that bad debts expense for the year was 3% of credit sales of $450,000 and recorded that amount as expense. The company uses the allowance method. Made the closing entry for bad debts expense. Sold merchandise inventory lo Malcom Monet, $1,000. on account. Ignore Cost of Goods Sold. Wrote off Malcom Monet's account as uncollectible after repeated efforts to collect from him. Received $1,000 from Malcom Monet, along with a letter apologizing for being so late. Reinstated Monet's account in full and recorded the cash receipt. Made a compound entry to write off the following accounts as uncollectible: Brian Kemper, $1, 300; Mo Vanez, $1, 100; and Rupert Robertson, $200. Estimated that bad debts expense for the year was 3% on credit sales of $470,000 and recorded the expense. Made the closing entry for bad debts expense