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At January 1, 2024. Purple Mountain Flagpoles had Accounts Rocoivable of $32,000, and Alowance for Bad Debts had a credit balance of \$4,000. During the year, Purple Mountain Flagpoles rocordod the following transactions for January (1) (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalire Purple's transactions that oocurrod during January. The company uses the allowance method. (Record debits first, then credits, Select the explanation on the last line of the joumal entry tabie.) (a.) Sales of $175,000 ( $160,000 on account; $15,000 for cash). Ifnore Cost of Goods Sold. (Prepare a single compound journal entry)