At September 30, 2018, the accounts of North Terrace Medical Center (NTMC) include the following: During the last quarter of 2018, NTMC completed the following selected transactions: (Click the icon to view the transactions.) $ Accounts Receivable Allowance for Bad Debts (credit balance) 140,000 3,200 Read the requirements Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Sales on account, $500,000. Ignore Cost of Goods Sold. A Requirements Date Accounts and Explanation Debit Credit x 2018 Dec. 31 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Show how North Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet. 3. Print Done More Info Sales on account, $500,000. Ignore Cost of Goods Sold. . Collections on account, $410,260 Wrote off accounts receivable as uncollectible: Silver, Co., $1,000; Oscar Weiss, $1,400, and Pristine, Inc., $500. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 99,000 $ 36,000 $ 13,000 $ 78,840 0.2% 2% 20% 25% Print Done Cho