At December 31, 2018, the Accounts Receivable balance of GPC Technology is $225,000. The Allowance for Bad Debts account has a $11,645 debit balance. GPC Technology prepares the following aging schedule for its accounts receivable: E (Click the icon to view the aging schedule.) Read the requirements - D Data table 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 1-30 Days Age of Accounts Accounts Receivable $ 31-60 Days 61-90 Days Over 90 Days 95,000 $ 70,000 $ 45,000 $ 15,000 0.1% 2.0% 10.0% 51.0% 1-30 31-60 61-90 Over 90 Total Estimated percent uncollectible Days Days Balance Days 95.000 Accounts Receivable $ $ 70,000 2.0 Days $ 45,000 10.0 $ 15.000 51.0 Estimated percent uncollectible 0.1 Print Done Estimated total uncollectible Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Show the T-account for the Allowance for Bad Debts at December 31, 2018. Allowance for Bad Debts Requirement 2. Show how GPC Technology will report its net accounts receivable on its December 31, 2018, balance sheet. Balance Sheet (Partial): Current Assets