E-F:8-2o Accounting for uncollectible accounts using the allowance method (percent-of-receivables) 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. 3. Journalize Hilltop's adjustment to record bad debts expense assuming Hilltop estimates bad debts as 10% of accounts receivable on January 31 , 2024. Post the adjustment to the appropriate T-accounts. 3. Bad Debts Expense $4,770 3. Bad Debts Expense $4,770 4. Show how Hilltop Flagpoles will report net accounts receivable on its January 31, 2024, balance sheet