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On August 31, 2024, Rosebud Floral Supply had a $165.000 debit balance in Accounts Receivable and a $6,600 credit balance in Allowance for Bad Debts. During September, Rosebud made Sales on account, $580,000 Ignore Cost of Goods Sold Collections on account 5613,000 Write-offs of uncollectible receivables, 59.000 Read the resguitements Requirement 1. Journalize al September entries using the allowance method Bad Debts Expense was estimated at 3% of credit sales Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts) Begin by journalizing all September entries using the alowance method. (Record debits first, then codes Select the explanation on the last line of the journal entry tablo) Sales on account, 5580,000. Ignore Cost of Goods Sold Accounts and Explanation Debit Credit Sep 30 Date Jor Requirements al 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 3% of credit sales, Show all September activity in Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts) 2. Using the same facts, assume that Rosebud used the direct write-off method to account for uncollectible receivables. Journalize all September entries using the direct write-off method. Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2024 3. What amount of Bad Debts Expense would Rosebud report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason 4. What amount of net accounts receivable would Rosebud report on its September 30, 2024 balance sheet under each of the two methods? Which amount is more realistic? Give your reason je o Print Done

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