On August 31, 2024 Mulberry Floral Supply had a $135.000 dobit balance in Accounts Receivable and a $5.400 credit balance in Allowance for Bad Debts. During September, Mulberry made Sales on account $580.000 ignore Cost of Goods Sold Collections on account $613,000 Write-ots of uncollectible receivables. $6,000 Read the requirements Requirement 1. Journalize all September entries using the allowance method Bad Debts Expense was estimated at 2% of credit sales. Show all September activity in Accounts Receivable Allowance for Bad Debts, and Bad Debts Expense (post to these Taccounts) Begin by journalining al September entries using the allowance method (Record dobits first, then credits Select the explanation on the last line of the journal entry Sales on account, $580.000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit Sep 30 Collections on account, $613,000 Debit Credit Date Accounts and Explanation Sep 30 Write-offs of uncollectible receivables, $6,000. Debit Credit Date Accounts and Explanation Sep. 30 Journalize the Bad Debts Expense for September using the allowance method. Bad Debts Expense was estimated at 2% of credit sales Debit Credit Date Accounts and Explanation Sep 30 Postal September entries in the appropriate accounts and calculate the ending balance in each account (Enter the beginning balance if applicable. Then post the transactions and calculate the account balance at September 30, 2024) Accounts Receivable Allowance for Bad Debts Bad Debt Expense Requirement 2. Using the same facts, assume that Mulberry 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 Begin by journaling all September entries using the direct write-off method (Record debits first, then credits Select the explanation on the last line the journal entry table) Sales on account, $580,000 Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit Sep 30 Collections on account, $613,000 Date Accounts and Explanation Debit Credit Sep 30 Write-offs of uncollectible receivables, $6.000 Date Accounts and Explanation Debit Credit Sep 30 Post to Accounts Receivable and Bad Debts Expense and show their balances at September 30, 2024 (Enter the beginning balance it applicable Then post the transactions and calculate the account balance at September 30, 2024) Accounts Receivable Bad Debt Expense Requirement 3. What amount of Bad Debts Expense would Mulberry report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason Enter the amount of bad debt expense Mulberry would report on its September 30, 2024 income statement under each of the two methods Income Statement (Partial) Allowance Method Direct Wito Off Method Bad Debts Expense Bad Dobts Expense under the better matches expense with revenue because the expense is recorded amount is more realistic Give your reason Requirement 4. What amount of net accounts receivable would Mulberry report on its September 30, 2024 balance sheet under each of the two methods? Which Enter the amount of net accounts receivable Mulberry would raport on its September balance sheet under each of the two methods (Complete all answer boxes. For accounts with a so bilance make sure to enter "O"in the appropriate column) Balance Sheet (Partial: Accounts recewable Allowance Method Direct Write-Off Method Loxs: Allowance for Bad Debts Not accounts receivable under the is more realistic because it shows the amount of the receivables that the company