Aging Method Jax, Inc. showed the following account balances on December 31, 2019. Required: 1 Calculate, record, post, and analyze the adjustment to recognize bad debt under the following assumption: CR DR 325,000 Account Accounts receivable Allowance for doubtful accounts Net credit sales 15,000 650,000 Allowance for Doubtful Number of Days Outstanding 0-30 31-60 61-90 91-120 Over 120 TOTALS Amount Receivable 150,000 60,000 30,000 70,000 15,000 325,000 Estimated Uncollectible 1.00% 2.00% 5.00% 20.00% 40.00% General Ledger Accounts Receivable A Debit Credit Allowance for Doubtful XA Debit Credit Bad Debt Expense E Debit Credit Transaction Analysis ASSETS = LIABILITIES + EQUITY REVENUES - EXPENSES = NET INCOME General Journal 2 What is the net realizable value of Accounts receivable