Question Help P9-35B (similar to) On August 31, 2018, Rosebud Floral Supply had a $145,000 debit balance in Accounts Receivable and a 55,800 credit balance in Allowance for Bad Debts. During September, Rosebud made: Sales on account, $530,000. Ignore Cost of Goods Sold, Collections on account $573,000. . Write-offs of uncollectible receivables, $8.000. Read the requirements Requirement 1. Journalize all September entries using the allowance method. Bad Debts Expense was estimated at 4% of credit sales. Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts). Begin by joumalizing all September entries using the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sales on account, $530.000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit Sep 30 Accounts Receivable 530,000 Sales Revenue 530,000 Record sales for the month. Debit Collections on account, SS73,000. Date Accounts and Explanation Sep. 30 Cash Accounts Receivable Credit 573,000 573,000 Choose from any list or enter any number in the input fields and then click Check Answer. ? i Requirements - X 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 4% of credit sales. Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts). 2. Using the same facts, assume that Rosebud 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, 2018. 3. What amount of Bad Debts Expense would Rosebud report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason. 4. What amount of net accounts receivable would Rosebud report on its September 30, 2018, balance sheet under each of the two methods? Which amount is more realistic? Give your reason. Print Done Write-offs of uncollectible receivables, $8,000. Date Accounts and Explanation Debit Credit Sep. 30 Allowance for Bad Debts 8,000 Accounts Receivable 8,000 Wrote off uncollectible accounts. Journalize the Bad Debts Expense for September using the allowance method. Bad Debts Expense was estimated at 4% of credit sales. Date Accounts and Explanation Debit Credit Sep. 30 Bad Debts Expense 21,200 Allowance for Bad Debts 21,200 Recorded bad debts expense for the period. Post all September entries in the appropriate T-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, 2018.) Accounts Receivable Allowance for Bad Debts Choose from any list or enter any number in the input fields and then click Check Answer. Post all September entries in the appropriate T-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, 2018.) Accounts Receivable Allowance for Bad Debts Bad Debt Expense