At September 30, 2018, the accounts of South Terrace Medical Center (STMC) include the following: During the last quarter of 2018, STMC completed the following selected transactions: A (Click the icon to view the transactions.) $ 144,000 Accounts Receivable Allowance for Bad Debts (credit balance) 3,900 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, $470,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Requirements 1. - X More Info Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts Show how South Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet. 3. Print Done Sales on account, $470,000. Ignore Cost of Goods Sold. Collections on account, $391,200 Wrote off accounts receivable as uncollectible: Starlight Co., $1,200; Omar Smith, $900; 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 130 Days 31-60 Days 61-90 Days Over 90 Days $ 102,000 $ 44,000 $ 17,000 $ 57,200 0.2% 2% 20% 25% Choose f Print Done