At September 30, 2024, the accounts of West Terrace Medical Center (WTMC) include the following: During the last quarter of 2024, WTMC completed the following selected transactions: A (Click the icon to view the transactions. S Accounts Recelvable Allowance for Bad Debts (credit balance) ) 145,000 3,400 i Requirements 1. Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (on Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Sales on account, $420,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit Open T-accounts for Accounts Receivable and Allowance for Bad Debls. Journalize the transactions (omit explanations) and post to the two accounts. Show how West Terrace Medical Center should report net accounts receivable on its December 31, 2024, balance sheet. 3. 2024 Dec. 31 Accounts Receivable 420,000 i More Info Sales Revenue 420.000 Collections on account, S389,250 Sales on account, $420,000. Ignore Cost of Goods Sold. Collections on account. $389,250 Wrote off accounts receivable as uncollectible: Rouge Co., S1.300: Omar Smith, $900; and Paradise, Inc., 8550. Recorded bad debts expense based on the aging of accounts receivable, as follows: Date Accounts and Explanation Debit Credit 2024 Dec. 31 Cash 389,250 Age of Accounts Accounts Receivable 389,250 Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days S 102,000 $ 37,000 $ 18,000 $ 16,000 0.2% 2% 20% 25% Estimated percent uncollectible