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E9-18 (similar to) AtJanuary 1.2018, Mour top Flagpoles had Accounts Recevable of S27 000 and Alowance sor Bad Dett had acredt bdance of S4 000 Durg te year ntomop Flagpoles recorded the biowang Read the cequiemens Requirement 1. Joumalize Mountaintop's transactions that ocourred during 2018 The company uses me alowance memod. (Reoord debits frst, men credts Select the expanation on the last ine of the joumal entry table (a) Sales of $180,000 (3160,000 om account, $20,000 for cash) Ignore Cost of Goods Sold a. Sales of $100,000 (1G0.000 on account $20,000 for gnore Cost ot Goods Sold b. Colections on account, $124,000 Requiements a. Wrte ofts of uncolechble receivabies, $2,800 Joumalize Mountantop's transactions that occuned duning 2018 The company uses the allowance method 2. Post Mountaintog's transacions o the Accounts Recevable and Allowance for Bad 3. Journalige Mountainloo's acjustment to ecord bad detts expense Print Done Choose from any list or enter any number in the input fields and then click Check Answer Post the adjustment to the appropriate T-accounts 6 Pemsning Clear Al More Info Sales of $180,000 ($160,000 on account; $20,000 for cash). Ignore Cost of Goods Sold. a. b. Collections on account, $124.000. Write-offs of uncollectible receivables, $2,800. c. Print Done iRequirements Journalize Mountaintop's transactions that occurred during 2018. The company uses the allowance method. 1. 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 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. Show how Mountaintop Flagpoles will report net accounts receivable on its December 31, 2018, balan sheet. 3. 4. Print Done E9-18 (similar to) Question Help At January 1, 2018, Mountaintop Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $4,000. 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 $180,000 (5160,000 on account: $20,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) Debit Credit Date Accounts and Explanation 2018