At December 31, 2016, the Accounts Receivable balance of Alpha Company is $215,000. The Allowance for Bad Debts account has a $15,580 debit balance. Alpha Company prepares the following aging schedule for its accounts receivable (Click the icon to view the aging schedule.) Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2016. 2. Show how Alpha Company will report its net accounts receivable on its December 31, 2016, balance sheet. Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2016. Begin by determining the target balance of Allowance for Bad Debts by using the age of each account

At December 31, 2016, the Accounts Receivable balance of Alpha Company is $215,000. The Allowance for Bad Debts account has a $15,580 debit balance Alpha Company prepares the following aging schedule for its accounts receivable Click the icon to view the aging schedule.) Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule Show the T-account for the Allowance for Bad Debts at December 2. Show how Alpha Company will report its not accounts receivable on its December 31, 2016, balance sheet C Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule Show the T-account for the Allowance for Bud Debts at December 31, 2016 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account Age of Accounts 1-30 31-60 61.90 Total Days 80.000 Balance Over 90 Days $ 20,000 Accounts Recevable Days $ 60,000 20 % 5 Days $ 55.000 9.0 % Estimated percent uncollectible 06 510 % Estimated total uncollectible - X Data table Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 80,000 $ 60,000 $ 55,000 $ 20,000 0.6% 2.0 % 9.0 % 510 % Print Done