Data Table - X Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days 70,000 $ 60,000 $ 55,000 $ 5,000 0.8% 2.0% 5.0% 52.0% Print Done - X Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018. 2. Show how Digital Cable Company will report its net accounts receivable on its December 31, 2018, balance sheet. Print Done At December 31, 2018, the Accounts Receivable balance of Digital Cable Company is $190,000. The Allowance for Bad Debts account has a $5,860 debit balance Digital Cable Company prepares the following aging schedule for its accounts receivable: E: (Click the icon to view the aging schedule.) Read the requirements Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account. Age of Accounts 1-30 31-60 61-90 Over 90 Total Days Days Balance Days 70,000 Accounts Receivable $ Days $ 55,000 5.0 % 5,000 $ 60,000 2.0 % Estimated percent uncollectible 0.8% 52.0% Estimated total uncollectible Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Show the T-account for the Allowance for Bad Debts at December 31, 2018. Allowance for Bad Debts Requirement 2. Show how Digital Cable Company will report its net accounts receivable on its December 31, 2018, balance sheet. Balance Sheet (Partial): Current Assets Choose from any list or enter any number in the input fields and then continue to the next