E-F:8-19 Accounting for uncollectible accounts using the allowance method (percent-of-sales) and reporting receivables on the balance sheet (Learning Objectives 1, 3) Requirements 1. Journalize Hilltop's transactions that occurred during January. The company uses the allowance method. 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. E-F:8-19 Accounting for uncollectible accounts using the allowance method (percent-of-sales) and reporting receivables on the balance sheet (Leaming Objectives 1, 3) Requirements 1. Journalize Hilltop's transactions that occurred during January. The company uses the allowance method. 2. Post Hilltop's transactions to the Accounts Receivable and Allowance for Bad Debts I-accounts. 2. AR, Dec: 31$54,700 3. Journalize Hilltop's adjustment to record bad debts expense assuming Hilltop estimates bad debts as 3% of credit sales on January 31, 2024. Post the adjustment to the appropriate T-accounts. 4. Show how Hilltop Flagpoles will report net accounts recetvable on its January 31, 2024, balance sheet