At December 31, 2024, the Accounts Receivable balance of Advanced Automotive Technology is $215,000. The Allowance for Bad Debts account has a $23,665 debit balance. Advanced Automotive Technology prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements Requirement 1. Joumalize 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, 2024. Begin by determining the target balance of Allowance for Bad Debts by using the age of each account. Age of Accounts 1-30 Days 31-60 Days 61-90 Days Over 90 Total Days Balance Accounts Receivable $ 85,000 $ 55,000 $ 35,000 Estimated percent uncollectible 0.9 3.0 7.0 40,000 52.0 Estimated total uncollectible Jumal g th Requirements le unce Colle 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, 2024. 2. Show how Advanced Automotive Technology will report its net accounts receivable on its December 31, 2024, balance sheet. Print Done - X en ota Data table Accounts Receivable Estimated percent uncollectible Age of Accounts 1-30 Days 31-60 Days 61-90 Days 85,000 $ 55,000 $ 35,000 $ 0.9% 3.0% 7.0% Print Done Over 90 Days 40,000 52.0% - X owanc