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At Jankary 1, 2024, Mountahiop Flagpoles had Acoounts Recelvable of $28,000, and Alowance for Bad Dobts had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following transactions for January: (i) (Click the icon to view the transactions.) Read the regimments. Requlrement 1. Joumalze Mountaintop's transoctions that occurred during January, The company uses the allowance method. (Record debits first, then credits. Seloct the explanation on the last line of the joumal entry table) (a.) Sales of \$181,000 (\$165,000 on account, \$16,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Requirements 1. Joumalue Mountaintop's transactions that occurred during January. The company uses the alowince method. 2. Post Mountainsop's transactions to the Accounts Receivable and Allowance for Bad Debts T-wocounts. More info 2. Joumalice Mountaintop's adjustment to recond bad debts expense assuming Mountaintop estimates bod debts as 3% of credit sales on Jaruary 31, 2024. Post the adjustment to the appropriale T-accounts. 4. Show how Mountaintop Flagpoles will report net accounts receivable a. Sales of $181,000 (\$165,000 on account \$16,000 for cath) on its January 31, 2024, balance sheet. b. Collections on acoount, $135,000. c. Write-offs of uncollectble receivabies, 52,400

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