lems Group A Problem for uncollectible accounts using the allowance (percent- direct write-olf methods and reporting receivables on the A csales) and direct write-off methunts using the Accounting for Learning Objectives 1 18. Bouquet Floral Supply had a $140.000 debit balance in Accounts 5600 credit balance in Allowance for Bad Debts. During Septem 1 Bades per balance sheet August 31, 2018 1 Deceivable and a $5.60 ser, Bouquet made: Sales on account unt, $550,000. Ignore Cost of Goods Sold. ctions on account, S584,000. offs of uncollectible receivables, $4,000. Collections Write-offs of Requirements 1. Journalize alls estimated at 2% able, Allowance for B 2. Using the same facte account for uncolla direct write-off method. I all September entries using the allowance method. Bad debts expense was 7% of credit sales. Show all September activity in Accounts Receiv- ince for Bad Debts, and Bad Debts Expense (post to these T-accounts). e facts, assume that Bouquet used the direct write-off method to for uncollectible receivables. Journalize all September entries using the e-off method. Post to Accounts Receivable and Bad Debts Expense, and 3. What amount of Ba income statement und w their balances at September 30, 2018. bount of Bad Debts Expense would Bouquet report on its September atement under each of the two methods? Which amount better matches sense with revenue? Give your reason. What amount of net accounts receivable would Bouquet report on its 2018 balance sheet under each of the two methods? Which amount is more realistic? Give your reason