Homework: Chapter 8 Homework Score: 0 of 15 pts 2 of 6 (complete HW Score: 0.0 of 100 pts Question Help E8-19 (similar to) At January 1 2018. Purple Mountain Flagpoles had Accounts Receivable of $27.000, and Allowance for Bad Debts had credit balance of 53.000. During the year, Purple Mountain Flagpoles recorded the following (Click the icon to view the transactions) Read the mairement Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. Record debit test the credits Select the explanation on the last line of the journal entry table) (a.) Sales of $172,000 (5157,000 on account: $15,000 for cash), Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit 2018 More Info a. Sales of $172,000 ($157,000 on account: $15,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $125,000 c. Write-offs of uncollectible receivables, $2,300. Print Done