od 1. Journalize Blue's transactions that occurred during 2018. The company uses the allowance method. 2. Post Blue's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Blue's adjustment to record bad debts expense assuming Blue estimates bad debts as 9% of accounts receivable. Post the adjustment to the appropriate T-accounts. 4. Show how Blue Mountain Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. a. Sales of $176,000 ($155,000 on account: $21,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $127,000. c. Write-offs of uncollectible receivables, $2,600. At January 1, 2018, Blue Mountain Flagpoles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of 53.000. During the year Blue Mountain Flagpoles recorded the following: Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Blue's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $176,000 ($155,000 on account: $21,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit 2018