Credit Losses Based on Accounts Receivable At December 31. Schuler Company had a balance of $369.000 in s Accounts Receivable account and a credit balance of $4,200 in the Allowance for Doubtful Accounts account. The accounts receivable T-account consisted of $374,000 in debit balances and $5,000 in credit balances. The company aged its accounts as follows Support Dashboard Khalid Brinkley Current 0-60 days past due 61-100 days pentue Over 130 days past due $504,000 44.000 1,000 ,000 $374,000 in the past the company has experienced credit losses as follows: one percent of current balances, five percent of balances 0-60 days past due percent of balances 61-180 days past due, and 40 percent of balances over six months past Bue. The company bases es alowance for doubtful accounts on an aging analyses of accounts fromable Required Prepare the adjusting entry to record the allowance for doubtful accounts for the year b. Show how Accounts Receivable including the credit balanced and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet Description Debil Credit Del Acous Relevane 74000