Homework: Week Five: Chapter 8: Problems Score: 0 of 1 pt 1 of 7 (0 complete) P9-27A (similar to) On August 31, 2016. Bouquet Floral Supply had a $150.000 debit balance in Accounts Receivable and a $6,000 credit balance in Allowance for Bad Debts. During September. Bouquet made . Sales on account, $580.000. Ignore Cost of Goods Sold . Collections on account, $598.000. . Write-offs of uncollectible receivables. 89.000. Read the requirements Requirement 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). (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing all September entries using the allowance method. Sales on account. $560.000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit Sep. 30 Requirements 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). Using the same facts, assume that Bouquet 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, 2016 What amount of Bad Debts Expense would Bouquet report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason What amount of net accounts receivable would Bouquet report on its September 30, 2016. balance sheet under each of the two methods? Which amount is more realistic? Give your reason, 3