Crescent Map Company's balance sheet at December 31, 2023, reported the following: (Click the icon to view the data) Read the requirements Requirement 1. How much of the receivables did Crescent expect to collect? Stated differently, what was the net realizable value of these receivables? The net realizable value of these receivables is $ 20,000 Requirement 2. Journalize, without explanations, 2024 entries for Crescent and post to the Accounts Receivable and Allowance for Bad Debts T-accounts Begin with the journal entries (Record debits first, then credits. Exclude explanations from journal entries.) a. Total credit sales for 2024 were $70,000 (ignore Cost of Goods Sold) Accounts and Explanation Date Debit Credit 2024 (a) 70,000 Accounts Receivable Sales Revenue 70,000 Credit b. Crescent received cash payments on account during 2024 of $56,000 Date Accounts and Explanation Debit 2024 () Cash 56,000 Accounts Receivable 56.000 Crescent Map Company's balance sheet at December 31, 2023.reported the following Click the icon to view the data) Read the recent c. Accounts receivable identified to be collectibles fotiled $5.600 Date Accounts and Explanation 2024 ( Niowance for ad Debts Accounts Receivable Debat Credit 51600 5.800 Post to the Accounts Receivable and lowance for Bed Debts T-accounts. The opening balances, as provided in the question, have been entered for you. Post the current year transaction you recorded above to these two account ning the corresponding letters can posting references Aller posting, calculate the adjusted balance of each count by selecting an 'Unad Balposting reference and the unadjusted balance on the appropre side of each account Ramalies you read above. Accounts Receivable Allowance for Bed Debts Jon 1 2004. 25.000 $4,000) D 5.600 3.000 Jan 1.2024 70.000 5.600 Unat 13400 Una 800 Requirement record the adjusting enty to recogne bad duties as wg the fotowing independent on and the post to the trade pense and war for Bad Dot Taccount 4% of credit ware stated to be coc Bagn by configurawy to recognize bad debe pense control then creats Exclude one from mature Crescent Mop Company's balance sheet at December 31, 2023, reported the following mid the boon to view the data) Read the team Requirement 3. Record the adjusting entry to recognize bad debts expense waing the following independent shutions, and then post to read Dotits Experne and Allowance for Bad Debts T-accounts 24% of credit sales were estimated to be uncollection Begn by recording the adjusting entry to recognize bad debts expense. Pecord debita frut, then credits Etude explanations from ouma entries) Accounts and Explanation Credit 2024 Decor Debts Experte lowance for Bed De 2.100 Debit 2100 a4% of credit sales were estimated to be collectible Enter the adjusted balance of the Allowance for Bad Dattaccount from Requirement along with an Und Balposting reference to the first in the Allowance for Bad Doble Taccount. Pout the adjusting entry from the preceding step to the Allowance for Bad Ditts and Bed Debt Expense accounts along with and posting reference Alposting the entry calculate the adjusted balance of the Taccounts and enter the adjusted balance, along with a "Dec 31, 2014, Bol posting reference to the appropriate side of each com Bed the account that you do in Brement Allowance for Bad Debts Bad Debts Expense Una 000 AG 2.800 2.000 Ad Dec 31, 2024, BM 2.800 2.200 Dec 31:2004 Crescent Map Company's balance sheet at December 31, 2023, reported the following (che con tow the data) Road the reavemente Enter the unadjusted balance of the Allowance for Bod Debts account from Requirement 2. Along with an Unos, Bal" poeting reference to the first line of the lowance for Blad Debt Taccount Post this adjusting entry from the preceding step to the Allowance for Bad Debts and Bad Doba Dipense accounts along with an Adj. postra reference. Altar posting the entry. Calculate the adjusted balance of the T-accounts and enter the adjusted balance, along with a "Dec 31, 2024. Bol posting terence to the appropriate side of each count Bewhewann. Icoat you see someonement2 Allowance for Bed Debte Bad Debts Expense Una tai 2.000 2.000 M Dec 31, 2026, 2.100 2200 Dec 31, 2024, bogging of receivindices that 3.500 of the receivables are estimated to be uncolectible Begin by recording the adjusting entry to recognize and debts expers. Mecord betalnomat Exclude explanations from journal entre) Bayww.bestowance. Iaccount that you posted 10. in Beurett Date Accounts and Explanation Debe Credit 2024 Dec 31 100