At December 31, 2018, the Accounts Receivable balance of Alpha Company is $145,000. The Allowance for Bad Debts account has a $15,235 debit balance. Alpha Company prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements. 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, 2018. Begin by determining the target balance of Allowance for Bad Debts by using the age of each account. Age of Accounts 0 Requirements Balance 1-30 Days 55,000 0.7% 31-60 Days $40,000 4.0% 61-90 Days $ 20,000 5.0% Over 90 Days $ 30,000 48.00 $ Accounts Receivable Estimated percent uncollectible Estimated total uncollectible 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, 2018 2. Show how Alpha Company will report its net accounts receivable on its December 31, 2018, balance sheet. i Data Table Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days $ 55,000 $ 40,000 0.7 % 4.0% 61-90 Days Over 90 Days $ 20,000 $ 30,000 5.0 % 48.0 % Enter any number in the edit fields and then click Check Answer. Print Done parts remaining Clear All Check