on August 31, 2024. Divine Floral Supply had a $175.000 debit balance in Accounts Receivable and a $7,000 credit badance in lowance for ad Debt. During testemter, we made Sales on count, $570,000. Ignore Cost of Goods Sold Collections on account, 5604.000 - Write-offs of uncollectible receivables, $2,000 Read the equirements Requirement 1. Joumaitse at Saptomber entries using the stownice method, Bad Debts Experien was estrated at 4% of credit 1. Show at Satu atvey Accounts Recette won for at Outta and Bad Bunun (post to these T-accounts) Bogin by oumaliring af September entries using the allowance method. Record on its first the credis Select the exploration on the last time ne jem ennytube) Sales on account. $570,000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Crochet Sep 30 entries using the allowance method. Bad Debts Expense was estimated at 4% of credit sales. Show all September acti using i Requirements ent f God nd Ex 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 4% of credit sales. Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts). 2. Using the same facts, assume that Divine used the direct write-off method to account for uncollectible receivables. Journalize all September entries using the direct write-off method. Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2024. 3. What amount of Bad Debts Expense would Divine report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason. 4. What amount of net accounts receivable would Divine report on its September 30, 2024, balance sheet under each of the two methods? Which amount is more realistic? Give your reason. Print Done