At December 31, 2018, the Accounts Receivable balance of Digital Cable Company is $135,000. The Allowance for Bad Debts account has a $4,580 debit balance. Digital Cable Company prepares the following aging schedule for its accounts receivable: EEB (Click the icon to view the aging schedule.) Read the requirements Requirement 1. Journalize the yearend 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 61-90 Days Days yyBalance 1-30 31-60 Over 90 Total S 60,000 40.000 $ 30,000 $ 5.000 Accounts Receivable Estimated percent uncollectible Estimated total uncollectible 9.0 % 47.0 % 0.8 3.0