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Score: D of 1 pt 3 of 5 (0 complete) HW Score: 0%, 0 of 7 pts EF9-19 (similar to) Question Help At January 1, 2024, Mountaintop Flagpoles had Accounts Receivable of 528,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following transactions for January: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Mountaintop's transactions that occurred during January. 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 $177,000 ($161,000 on account, $16,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry.) orred Date Accounts and Explanation Debit 2024 Requirements X Jan Journalize Mountaintop's transactions that occurred during January. The company uses the allowance method. More Into - X 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 3% of credit sales on January 31, 2024. Post the adjustment to the appropriate T-accounts a. Sales of $177,000 ($161,000 on account; $16,000 for cash), Show how Mountaintop Flagpoles will report net accounts receivable Ignore Cost of Goods Sold. on its January 31, 2024, balance sheet. b. Collections on account, $134,000. c. Write-offs of uncollectible receivables, $2,700. Print Done Print Done hack Answer. CO parts remaining Clear All Check