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Homework: Chapter 8 homework Save Score: 0 of 10 pts 2016 (2 complete) HW Score: 56.36%, 56.36 of 100 pt E8-18 (similar to) Question Help At January 1, 2018, Mountaintop Flagpoles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize Mountaintop's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $187,000 ($165,000 on account: $22,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit 2018 Choose from any list or enter any number in the input fields and then click Check Answer 6 parts Clear All Check Answer O remaining apter 8 homework 2 of 6 (2 complete) HW Scc lagpoles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance he following: sactions.) taintop's transactions that occurred during 2018. The company uses the allowance method. (Recon the journal entre table on accou A More Info x mal ent s and Ex a. Sales of $187,000 ($165,000 on account; $22,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $126,000. c. Write-offs of uncollectible receivables, $2,100. [Print Done ny number in the input fields and then click Check Answer. Clear All pter 8 homework 2 of 6 (2 complete) HW Score: poles had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3. Sllowing: tions.) 29 A Requirements - X fecord deb i entry) 1. Journalize Mountaintop's transactions that occurred during 2018. The company uses the allowance method. 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Mountaintop's adjustment to record bad debts expense assuming Mountaintop estimates bad debts as 4% of credit sales. Post the adjustment to the appropriate T-accounts. 4. Show how Mountaintop Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. Print Done umber in the input fields and then click Check