Question

Please help me for the rest of the question and tell me what’s wrong the the requirement 4

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Score: 06of 1 pt Quetion Help & E8-19 (similar to) Al January 1, 2018, Purple Mountain Flagpoles had Accounts Recevable of $31,000, and Allowance for Bad Debks had a credit bakance of $3,000 During the year, Purpie Mountain Flagpoles recorded the following (Click the icon to view the transactions.) Read the requirements Requirement Z. Post Purpie's transachons to the Accounts Heccivable and Allowance tor Bad Debts I-accounts Enter the beginning balances and the journal entries, and then compute the unadjusted balance of each account Accounts Receivable Allowance for Bad Debts 3,000 Jan. 1,2018 Bal. 31,000 131,000 Collections 156,000 2200 Write-ofs Jan. 1, 2018 Bal Net credit soles Unadj. Bai. Requirement3. Jou naze Purples ad 53,800 800 Unadj Bal. bad debts as 14% of accounts receivable Post the adjustment to Requirements nent to reco d bad debts expense assum ng Purple estimates on the last line of the journai entry table) First journalize Purple's adjustment to record bad debts expense. More Info 1. Journaize Purple's transactions that occurred during 2018 The Accounts and Explanation Debit Date 2018 Dec. 31 Bad Debts Expense company uses the allowance method for Bad Debts T-accounts Purpie estimates bad debts as 14% of accounts receivable Post the adjustient to the appropriate T-accounts receivable on its December 31, 2018, balance sheet Purpile's transactions to the Accounts Recewable and Alowance expense assuming a. Sales of $179,000 ($156.000 on account, $23,000 for cash). 21840 Ignore Cost of Goods Sold b. Collectivns on account, $131,000 c Write-clts at uncoliect ble receivables, $2200 3. Journalize Purple's adustnent to record bad debts 21840 Alowance tor Bad Debts 4. Show how Purple Mountain Flagpoles will report net accounts Print Done Recorded bad debts expense for the period. Print Done Check Answer Choose from any list or enter any number in the input fields and then click heck Aiswer Clear All 2 Pamanng 4:27 PM O Type here to search 8 5

Answer 1

Part 3

Account receivable Balance at Dec 31, 2018	$          53,800
Multiply: Estimate of bad debts (Hint: % of Account receivable)	14%
Adjusted Credit Balance of Allowance for bad debts at Dec 31, 2018	$            7,532
Adjusted Credit Balance of Allowance for bad debts at Dec 31, 2018	$            7,532
Unadjusted Credit Balance of Allowance for bad debts at Dec 31, 2018	$                800
Bad Debts Expense	$            6,732

Date	Account title	Debit	Credit
2018 Dec 31	Bad Debts Expense	$    6,732
	Allowance for bad debts		$    6,732
	(To record Bad Debts Expense for the year.)

Part 4

Account receivable Balance at Dec 31, 2018	$          53,800
Allowance for bad debts (Less)	$            7,532
Net Account receivable Balance at Dec 31, 2018	$          46,268