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At January 1, 2018. Eagle Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of 54,000. During the year, Eagle Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the resulcements Requirement 1. Journalize Eagle's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explainition on the last line of the journal entry table.). (a) Sales of $174,000 (5156,000 on account: $18,000 for cash), Ignore Cost of Goods Sold (Prepare a single compound journal entry) Choose from any list or enter any number in the input fields and then click Check Answer 6 Parts remaining More Info Requirements 1. Journalize Eagle's transactions that occurred during 2018. The company uses the allowance method. 2. Post Eagle's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Eagle's adjustment to record bad debts expense assuming Eagle estimates bad debts as 2% of credit sales. Post the adjustment to the appropriate T-accounts. 4. Show how Eagle Mountain Flagpoles will report net accounts receivable a. Sales of $174,000 ($156,000 on account: $18,000 for cash). Ignore Cost of Goods Sold, b. Collections on account, $136,000 c. Write-offs of uncollectible receivables, $2,700. Print Done , , 2010, Eagle Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. 2018 then click Check Answer. Accounts Receivable Allowance for Bad Debts Choose fror Bad Debts Expense Cash remainir Sales Revenue Clear All 6 parts