At December 31, 2024, the Accounts Receivable balance of Questor Application Inc is $180,000. The Allowance for Bad Debts account has a $11,775 debit balance. Questor Application Inc prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements. Data table Accounts Receivable Estimated percent uncollectible 1-30 Days $ 95,000 $ 0.5% Age of Accounts 31-60 Days 61-90 Days 40,000 $ 4.0% Print Done Over 90 Days 30,000 $ 15,000 9.0% 54.0% ount for At December 21 2024 the Accounts Receivable balance of Quester Application Inc is $180.000 The Allowance for Bac account nts rec - X BEE (Clic Read the Requirements Require the Allow Begin by 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 Questor Application Inc will report its net accounts receivable on its December 31, 2024, balance sheet. Print Done Accounts 4.0 % 9.0% 54.0% % 0.5 of he T-ac 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, 2024. 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 Over 90 Total Days Days Days Days Balance Accounts Receivable $ 95,000 $ 40,000 $ 30,000 $ Estimated percent uncollectible 0.5 475 % 4.0% 9.0 % 15,000 54.0% $ 180,000 $ 1,600 $ 2,700 $ 8,100 $ 12,875 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.) At December 31, 2024, the Accounts Receivable balance of Questor Application Inc is $180,000. The Allowance for Bad Debts Accounts Receivable $ 95,000 $ 40,000 Estimated percent uncollectible 0.5% 4.0 % $ 30,000 9.0% $ 15,000 $ 180,000 54.0% $ 475 $ 1,600 $ 2,700 $ 8,100 $ 12,875 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 Dec. 31 Accounts and Explanation Debit Credit