E8-19 (similar to) Question Help At January 1, 2018, Blue Mountain Flagpoles had Accounts Receivable of $33,000, and Allowance for Bad Debts had a credit balance of $4,000 During the year, Blue Mountain Flagpoles recorded the following Click the icon to view the transactions.) Read the requirements Requirement 1. Joumalize Blue's transactions that occurred during 2018. The company uses the allowance method. (Recerd debits first, then credits. Select the explanation on the last line of the journal entry table.) a.) Sales of $172,000 ($ 156,000 on account $16,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compountjournal entry) Debit Credit Date Accounts and Explanation 2018 pter 8 HW 3 of 5 (0 complete) agpoles had Accounts Receivable of $33,000, and Allowance for Bad Debts had a credit balance of e following: ctions.) nsactions that occurred during 2018. The company uses the allowance method. (Record debits first i More Info , nal entry) accou nd Sales of $172,000 ($156,000 on account; $16,000 for cash). Ignore Cost of Goods Sold. Collections on account, $138,000. Write-offs of uncollectible receivables, $2,600. a. b. c. Print Done number in the input fields and then click Check Answer Clear All Ch ans i Requirements ebits first t urna n acc and 1. Jburnalize Blue's transactions that occurred during 2018. The company 2. Post Blue's transactions to the Accounts Receivable and Allowance for 3. Journalize Blue's adjustment to record bad debts expense assuming Panyntry) uses the allowance method Bad Debts T-accounts Blue estimates bad debts as 8% of accounts receivable. Post the adjustment to the appropriate T-accounts. 4. Show how Blue Mountain Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. Print Done