- X More Info a. Sales of $187,000 ($164,000 on account; $23,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $133,000. c. Write-offs of uncollectible receivables, $2,300. Print Done At January 1, 2018 Mountaintop Flagpoles had Accounts Receivable of $26.000, and Allowance for Ead Debes had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following: (Click the icon to view the transactions Read the regime Requirement 1. Journalisa Mountaintop transactions that occurred during 2012 The company As the AWANCA method (Hacer dahis first, the credits Select the explanation on the last line of the joumal entry tail) (aSales of $187.000 (5164,000 on account S23,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit 2018 ib. Collectons on account $133.000. Date Account and Explotion 2010 Credit ic. Write-offs of uncollectible receivables $2,300 Dare Accounts and Fxplanation 2018 Detail Requirement 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts Enter the beginning balance and the journals and the compute the adjusted balance of each count Accounts Receivable Allowance for Dad Debes Requirement 3. Journalice Mountaintop's adjustment to record bad debts expense assuming Mountaintop estimate bad debts as 13% of accounts receivable Post the adjustment to the appropriate T-accounts (Record debits first, the credits Select the explanation on the last line of the journal entry table. First joumalze Mountaintop's adjustment to record bad debts expansa. Date Accounts and Explanation Debit Credit 2013 Dec 31 IN Paat the adjustment to the appropriate Tenis Enter the unadjusted balances computed in requirment 2 and the the beginning balance for the Bad Debt Expense account. Then past the adjustment and compute the December 31 adjusted balance of each account (Enter a l' on the normal side of the account for any zero balances) Account Receivable Allowance for Rad Nahte 11 11 Bad Debts expense 11 Requirement 4. Show how Mountaintop Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet Halance Sheet (Partial Current Choose from any ist or enter any number in the input fields and then continue to the next cuestion 2