%E8-17 (similar to) Question Help At January 1, 2016. Hiltop Flagpoles had Accounts Receivable of $32,000, and Allowance for Bad Debts had a credit balance of 54000 During the year Click the icon to view the transactions) Flagpoles recorded the following Read the results Bethers Seed Requirements. Journalce Hiltops adjustment to record bad debts expense assuming Hop estimates bad debts as 2 of credit sales Post the adjustment to the appropriate accounts Record de the explanation on the lastne of the journal entry table) stjournale H opsadusent to record bad debts expense Accounts and Explanation Debit - Credit Dec 31 adet Expense Allowance for Bad Debits O S Post the adjustment to the appropriate n t to appropriate accounts Lea ther First enter and be the Jan 1 2016 balance for the Bad Debt Expense account the postme Choose roman of een neuesten ensi More Info ebi a. Sales of $180,000 ($155,000 on account; $25,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $138,000. c. Write-offs of uncollectible receivables, $2.200 Print Done account then post the adjustment to the appropriate T-accounts. (Enter a 0 ont pts expense assuming Hilltop estimates bad debts as 2% of credit sales. Post the adjustment to Requirements 1. Journalize Hilltop's transactions that occurred during 2016. The company uses the allowance method 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. Journalize Hilltop's adjustment to record bad debts expense assuming Hilltop estimates bad debts as 2% of credit sales. Post the adjustment to the appropriate T-accounts. Show how Hilltop Flagpoles will report net accounts receivable on its December 31, 2016 balance sheet. pense nd then Print Done UTEGIA Sitial to) HW Score: 10 Al January 1, 2016. Hilltop Flagpoles had Accounts Receivable of $32,000, and Allowance for Bad Debts had a credit balance of 1000 During the powe (Click the icon to view the transactions) Read the requirements r ed Post the adjustment to the appropriate T-accounts First enter and label the Jan 1, 2016 balance for the Bad Debt Expense account, the post the adjustment to the appropriate accounts Enter one Allowance for Bad Debts 4000 Jan 1, 2016 Bal Jan 1 2016 Bal Net credit sales Unad Bal Accounts Receivable 32.000 138.000 Collections 155.000 2.200 Write-offs 46,800 3100 Adj 1800 Dec 31 2016 Bal 1,800 Unad Bal 1800 3100 Dec 31 2016 Bad Debts Expense Jan 1, 2016 Bal er Choose from any list or enter any number in the input Teles and henck Check At January 1, 2016, Hilltop Flagpoles had Accounts Receivable of $32,000, and Allowance for Bad Debts had a credit balance of S4. (Click the icon to view the transactions) Read the requirements. First enter and label the Jan 1, 2016 balance for the Bad Debt Expense account, then post the adjustment to the appropriate L-acce Accounts Receivable Allowance for Bad Debts Jan 1, 2016 Bal 32,000 138,000 Collections Write-offs 2,200 4,000 Jan 1, 2016 Bal. Net credit sales 155,000 2,200 Write-offs Unadjal 46,800 1,800 Unadj.Bal 3100 Adj 1800 Adj. 1800 Dec. 31 2016 Bal 3100 Dec. 31 2016 Bal.hu Bad Debts Expense Jan. 1. 2016 Bal 3100 Dec 31 2016 Bal 3100 Choose from any list or enter any number in the input fields and then click Check Answer. Clear All part remaining E Question Help Al Jaruary 1, 2016. Hilltop Flagpoles had Accounts Receivable of 532.000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, top Flagpoles recorded the following: C lick the icon to view the transactions) Read the requirements First enter and label the Jan 1, 2016 balance for the Bad Debt Expense account then post the adjustment to the appropriate T-accounts. (Enter a "0" on the norma side of the account for any zero balances.) Allowance for Bad Debts 2.2001 4,000 Jan 1, 2016 Bal Write-offs Jan 1, 2016 Bal Net credit sales Accounts Receivable 32,000 138.000 Collections 155,000 2.200 Write-offs 46,800 3100 Adj 1800 Dec 31 2016 Ball Unad Bal 1,800 Unadj Bal 1800 Adj 3100 Dec 31 2016 Bal