1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet. 3. More Info Sales on account, $420,000. Ignore Cost of Goods Sold. Collections on account, $410,260 Wrote off accounts receivable as uncollectible: Raja Co., $1,200; Orvis Redd, $1,100; and Parket, Inc., $400. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 95,000 $ 37,000 $ 16,000 $ 4,040 0.3% 30% 35% 3% P8-29A (similar to) At September 30, 2018, the accounts of Mountain Terrace Medical Center (MTMC) include the following: Question Help During the last quarter of 2018, MTMC completed the following selected transactions Click the icon to view the transactions.) $ Accounts Receivable Allowance for Bad Debts (credit balance) 145,000 3.700 Read the requirements. Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Joumalize the transactions (omit explanations) and post to the two accounts. Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Sales on account, $420,000. Ignore Cost of Goods Sold. Date Accounts and Explanation 2018 Dec 31