On April 30, 2017, Blue Mountain Party Planners (BMPP) had a $39,000 balance in Accounts Receivable and a $2,800 credR balance in Al owance for totaled $2,000, and an account 0800 was recovered. Bad debt expense is estimated to b@ $710. e Accounts. During May, BMPP made credit sales of $71,000. May collections on account were S57,000, write-offs of uncolectble receirvables 1. Joumalize saies, collecions, write-cffs of uncol ectibles, recovery of accourts recevable, and bad debt experse by the alowance method during Mey. Explanations are not required. 2. Show th ending balances r Acounts Recevable. Alowane for Unoollectible Acourts and Net Accounts Receivable at May 31 How much does BMPP 8 pect to colect 3. Show how BM P il report Accounts Receivable on ns M8y 31 balance shee, Use the for er Accounts Reo vat e net of allowance for collectible accounts of at May 31. 2017. Insert P evalue yo ve cale lated fo the 81 ance Requirement 1. Joumalize sales, collections, write-offs of uncclectibles, recovery of accounts recervable, and bad debt expense by the allawance method during May, Explanations are not required. (Record debits first, then credits (a) Begin by recording the joumal entry for May sales Journal Entry (b) Next, journaize the collections on account ()Now joumalize the write-ofs of unoolectibles Date Credit (d) Now, record the enery to jounsize the bad debt expense. Journal Entry Credit (e) Record the entry to journalize the recovered account Journal Entry Date Debit Credit (e) Finally, record the entry to jounalize the receipt of the cash for the account recovered. Journal Entry Date Debit Credit Requirement 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at May 31. How much does 8MPP expect to collect? In the following T-accounts, enter the beginning balancas and the adjusting entries, and compute the ending balances. (Enter the corresponding letter as the posting reference. Leave unused cells blank) Allowance for Uncollectible Accounts Compute the net accounts recelvable at May 31 Net accounts receivable = $ Blue Mountain Party Planners expects to collect $ Requirement 3. Show how BMPP will report Accounts Receivable on its May 31 balance sheet. Use the format 'Accounts Receivable, net of allowance for uncollectible accounts ofat May 31, 2017. Insert the value you've calculated for the allowance. Blue Mountain Party Planners Balance Sheet (Partial) May 31, 2017