tramsactions for January (1) (Click the ican to vere the transactions) Read the reanements entry latile) a. Sales of $175,000 ( $155,000 on account; $20,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $124,000. c. Write-offs of uncollectible receivables, $2,800. 1. Journalize Hilly's transactions that occurred during January. The company uses the allowance method. 2. Post Hilly's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Hilly's adjustment to record bad debts expense assuming Hilly estimates bad debts as 2% of credit sales on January 31,2024. Post the adjustment to the appropriate T-accounts 4. Show how Hilly Mountain Flagpoles will report net accounts receivable on its January 31,2024 , balance sheet