A.J. Hinch Inc. had the following information about receivables at the end of 2018: Aging of Accts Receivable: 30 to 90 days 91 to 180 days 1 to 30 days Over 180 days $61,000 $68,000 $58,000 Customer Cole Harris James Keuchel McCullers McHugh Morton Osuna Pressly Sipp Verlander Total Rec. Not Yet Due $40,000 $40,000 $61,000 $25,000 $25,000 $68,000 $58,000 $34,000 $14,000 $32,000 97,000 46,000 $46,000 88,000 $14,000 $32,000 $97,000 88,000 AJ uses the aging of accounts receivable method to determine the allowance for bad debts. He assumes the following regarding the bad debts for the roster above: Bad Debt % 2% 5% 20% 50% 100% Required: Record the necessary year end adjustments relating to bad debts, including the write off of those accounts that are assumed to be 100% uncollectible. As of 12/31/18, the balance in the Allowance for Bad Debts is a $25,000 credit