Credit Losses Based on Accounts Receivable At December 31, Schuler Company had a balance of $369,000 in its 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: Current $304,000 060 days past due 44,000 61180 days past due 18,000 Over 180 days past due 8,000 $374,000 In the past, the company has experienced credit losses as follows: one percent of current balances, five percent of balances 060 days past due, 18 percent of balances 61180 days past due, and 40 percent of balances over six months past due. The company bases its allowance for doubtful accounts on an aging analysis of accounts receivable. Required a. Prepare the adjusting entry to record the allowance for doubtful accounts for the year. b. Show how Accounts Receivable (including the credit balances) and the Allowance for Doubtful Accounts would appear on the

11680 forbad expense and 11680 for allowance of doubt account is that right and i cant find sum for customers over payments