(Click the icon to view the aging schedule.) Requirements 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? 2. Make the entry required by the aging schedule. 3. Show how Alpha Company will report Accounts Receivable on its December 31 balance sheet. Requirement 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? Allowanne far Rnuhtfill Arrounte- The credit balance at December 31 in Allowance for Doubtful Accounts should be $. The current balance is $ Requirement 2. Make the entry required by the aging schedule. (Record debits first, then credits. Exclude explanations from any journal entries.) First, prepare the journal entry using the adjusting entry amount we calculated in the first step. Requirement 3. Show how Alpha Company will report Accounts Receivable on its December 31 balance sheet Data table There are two generally accepted methods to present receivables on the balance sheet. Use the method used to present receivables on the balance sheet shows the Allowance for Doubtful Accounts on a line of its own