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. 2. AR, Dec. 31$54.700 3. Joumalize Hilltop's adjustment to record bad debts expense. assuming Hillitop 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 recelvable on its January 31,2024 balance sheet