January 1, 2018

Mountaintop

Mountaintop Flagpoles had Accounts Receivable of $ 34,000

and Allowance for Bad Debts had a credit balance of $3,000.

During theyear, Mountaintop Flagpoles recorded thefollowing:

At January 1, 2018, Mountaintop Flagpoles had Accounts Receivable of $34,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following: 0 (Click the icon to view the transactions.) Read the @uirements. Requirement 1. Joumalize Mountaintop's transactions that occurred during 2018. The company uses the allowance method. (Record debits rst, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $180,000 ($160,000 on account; $20,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) Date Accounts and Explanation L Debit I Credit o More Info 2018 . Sales of $180,000 ($160,000 on account; $20,000 for cash). Ignore Cost of Goods Sold. . Collections on account, $137,000. . Writeoffs of uncollectible receivables, $2,100. ' Print