On April 30, Hilltop Party Planners had a $36,000 balance in Accounts Receivable and a $2,552 credit balance in Allowance for Uncollectible Accounts. During May, Hilltop made credit sales of $198,000. May collections on account were $161,000, and write-offs of uncollectible receivables totaled $2,920. Uncollectible-accounts expense is estimated as 2% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during May. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Begin by recording the journal entry for May sales. Journal Entry Date Accounts Debit Credit (a) Requirements 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during May. Explanations are not required. 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at May 31. How much does Hilltop expect to collect? 3. Show how Hilltop Party Planners will report accounts receivable and net sales on its May 31 balance sheet and income statement for the month ended May 31. Print Done All Check Answer olen