On February 28, Windy Mountain Ski Equipment had a $25,500 debit balance in Accounts Receivable. During March, the company had sales of $78,900, which included 572,000 in credit sales March collections were $59,000, and write-offs of uncollectible receivables totalled $1,650. Other data include: a. February 28 credit balance in Allowance for Doubtful Account was $1,800. b. Bad debt expense was estimated as 3 percent of credit sales. Required 1. Prepare journal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the allowance method (using the percent-of-sales method). 2. Prepare T-accounts to show the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Compute net Accounts Receivable at March 31. How does Windy Mountain expect to collect? Requirement 1. Prepare joumal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the allowance method (using the percent-of-sales method) Start by entering the journal entry for the sales recorded in March. (Record debits first, then credits. Explanations are not required.) Journal Entry Debit Credit Accounts Date Mar. 31 Next, journalize the collections on account. Journal Entry Time Remaining: 01:58.14 Next 1. 2. Prepare journal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the all Prepare T-accounts to show the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Compute ne Journal Entry Date Accounts Debit Credit Mar. 31 Now, record the entry to journalize the write-offs of uncollectible receivables. Journal Entry Date Accounts Debit Credit Mar. 31 Finally, we can joumalize the bad debt expense. Journal Entry Date Accounts Debit Credit Mar. 31 Requirement 2. Prepare T-accounts to show the ending balances in Accounts Receivable and Allowance for Doubtful Accounts Compute net Accounts Receivable at March 31. How much does Windy Mountain expect to collect? In the following T-accounts, enter the adjusting entries in the order they were recorded in the preceding steps. (Leave any unused cells blank.) Accounts Receivable Allowance for Doubtful Accounts Bal 25.500 1,800 Bal. rob 21 Compute net accounts receivable at March 31 Net accounts receivable How much does Windy Mountain expect to collect? Windy Mountain expects to collect $