Chocolate Obsession had the following balances at December 31, 2016, before the year-end adjustments: (Click the icon to view the balances and accounts receivable aging schedule.) Requirements 1. Journalize Chocolate's entry to record bad debts expense for 2016 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Requirement 1. Journalize Chocolate's entry to record bad debts expense for 2016 using the aging-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts Credit Debit Dec. Data Table Allowance for Bad Debts Accounts Receivable 73,000 1,046 The aging of accounts receivable yields the following data: Age of Accounts Receivable 0-60 Days Over 60 Days Total Receivables Accounts Receivable $70,000 $3,000 $73,000 Estimated percent uncollectible x 3% x 20% Print Done