The Accounts Receivable balance and Allowance for Bad Debts for Precious Gems Collection at December 31, 2017, was $10,800 and $2,000 (credit balance), respectively. During 2018, Precious Gems Collection completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Precious Gems Collection's transactions for 2018 assuming Precious Gems Collection uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal ante table a. Sales revenue on account, $287,300 (ignore Cost of Goods Sold). i Requirements i More Info Accounts and Explanation Debit Credit 1. Journalize Precious Gems Collection's transactions for 2018 assuming Precious Gems Collection uses the allowance method. 2. Post the transactions to the Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense T-accounts, and determine the ending balance of each account. 3. Show how accounts receivable would be reported on the balance sheet at December 31, 2018. a. Sales revenue on account, $287,300 (ignore Cost of Goods Sold). b. Collections on account, $216,000. c. Write-offs of uncollectibles, $6,300. d. Bad debts expense of $6,000 was recorded. Print Done Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 7 parts remaining Clear All Check